Greystone Financial Group LLC Buys 617 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Greystone Financial Group LLC increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 24.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,127 shares of the medical research company’s stock after purchasing an additional 617 shares during the quarter. Greystone Financial Group LLC’s holdings in Thermo Fisher Scientific were worth $1,729,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Signature Resources Capital Management LLC raised its holdings in shares of Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Northwest Financial Advisors purchased a new stake in Thermo Fisher Scientific during the 4th quarter valued at about $29,000. True Wealth Design LLC lifted its position in Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 51 shares during the last quarter. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific in the second quarter worth approximately $29,000. Finally, Stephens Consulting LLC raised its holdings in Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the sale, the vice president now owns 13,699 shares in the company, valued at approximately $8,397,760.98. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Lisa P. Britt sold 3,624 shares of the company’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $613.02, for a total transaction of $2,221,584.48. Following the transaction, the vice president now owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock valued at $14,094,292 over the last quarter. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TMO shares. Stifel Nicolaus raised their price target on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Wells Fargo & Company initiated coverage on Thermo Fisher Scientific in a report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 price target on the stock. Robert W. Baird lifted their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Jefferies Financial Group restated a “buy” rating and set a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Finally, TD Cowen upped their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $630.41.

Thermo Fisher Scientific Stock Performance

TMO stock traded up $4.45 on Friday, hitting $611.33. The company had a trading volume of 1,868,789 shares, compared to its average volume of 938,285. The stock has a market cap of $233.35 billion, a price-to-earnings ratio of 39.21, a P/E/G ratio of 2.85 and a beta of 0.78. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The stock’s 50-day simple moving average is $584.07 and its 200 day simple moving average is $577.99. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $622.30.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the prior year, the company earned $5.15 earnings per share. Thermo Fisher Scientific’s revenue was down 1.4% on a year-over-year basis. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.