Meridian Wealth Partners LLC Has $287,000 Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Meridian Wealth Partners LLC grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 519 shares of the medical research company’s stock after purchasing an additional 32 shares during the period. Meridian Wealth Partners LLC’s holdings in Thermo Fisher Scientific were worth $287,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Signature Resources Capital Management LLC boosted its stake 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 purchasing an additional 35 shares in the last quarter. True Wealth Design LLC lifted its stake in Thermo Fisher Scientific by 1,275.0% in the 4th 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 stake in shares of Thermo Fisher Scientific during the second quarter worth $29,000. Stephens Consulting LLC increased its holdings in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares in the last quarter. Finally, LifeSteps Financial Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at $31,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO opened at $610.26 on Wednesday. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $627.88. The company has a market cap of $232.95 billion, a price-to-earnings ratio of 39.14, a PEG ratio of 2.86 and a beta of 0.78. The company’s fifty day moving average price is $595.23 and its two-hundred day moving average price is $580.77. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping 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 firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. During the same period in the previous year, the company posted $5.15 EPS. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. On average, analysts expect that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, 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 Securities & Exchange Commission, which is available through this link. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the sale, the executive vice president now directly owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,084 shares of company stock valued at $14,094,292. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the subject of several research reports. Royal Bank of Canada increased their target price on Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. TD Cowen lifted their target price on Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Jefferies Financial Group restated a “buy” rating and set a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Bank of America increased their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $632.89.

About Thermo Fisher Scientific

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.