Modern Wealth Management LLC Buys 344 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Modern Wealth Management LLC grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,834 shares of the medical research company’s stock after acquiring an additional 344 shares during the period. Modern Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $3,225,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Taikang Asset Management Hong Kong Co Ltd grew its holdings in Thermo Fisher Scientific by 21.4% in the 4th quarter. Taikang Asset Management Hong Kong Co Ltd now owns 17,516 shares of the medical research company’s stock valued at $9,112,000 after buying an additional 3,084 shares in the last quarter. ICW Investment Advisors LLC grew its stake in shares of Thermo Fisher Scientific by 13.5% in the fourth quarter. ICW Investment Advisors LLC now owns 1,087 shares of the medical research company’s stock valued at $566,000 after acquiring an additional 129 shares in the last quarter. Crowley Wealth Management Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter worth about $43,000. Vanguard Group Inc. boosted its holdings in Thermo Fisher Scientific by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company’s stock valued at $17,297,426,000 after purchasing an additional 196,864 shares during the period. Finally, Community Bank N.A. increased its holdings in shares of Thermo Fisher Scientific by 10.2% during the fourth quarter. Community Bank N.A. now owns 4,443 shares of the medical research company’s stock worth $2,311,000 after purchasing an additional 412 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. This trade represents a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock worth $13,106,062 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wells Fargo & Company increased their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Royal Bank of Canada set a $693.00 price target on Thermo Fisher Scientific in a research report on Friday, January 31st. Citigroup reduced their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Raymond James restated an “outperform” rating and issued a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Finally, UBS Group lifted their price objective on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $653.23.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $513.77 on Wednesday. The stock has a market cap of $193.83 billion, a price-to-earnings ratio of 31.08, a P/E/G ratio of 2.99 and a beta of 0.79. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The company’s fifty day moving average is $544.56 and its 200 day moving average is $554.22.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio is 10.41%.

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.