Broadway Wealth Solutions Inc. Invests $287,000 in Thermo Fisher Scientific Inc. (NYSE:TMO)

Broadway Wealth Solutions Inc. purchased a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 552 shares of the medical research company’s stock, valued at approximately $287,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TMO. Howard Capital Management Group LLC raised its stake in shares of Thermo Fisher Scientific by 0.5% during the third quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company’s stock worth $33,759,000 after buying an additional 286 shares during the last quarter. Principal Financial Group Inc. increased its stake in Thermo Fisher Scientific by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,247,838 shares of the medical research company’s stock worth $771,876,000 after purchasing an additional 225,568 shares in the last quarter. D.A. Davidson & CO. raised its holdings in Thermo Fisher Scientific by 2.0% during the 3rd quarter. D.A. Davidson & CO. now owns 10,158 shares of the medical research company’s stock worth $6,283,000 after buying an additional 201 shares during the period. CreativeOne Wealth LLC boosted its holdings in shares of Thermo Fisher Scientific by 13.0% in the third quarter. CreativeOne Wealth LLC now owns 6,027 shares of the medical research company’s stock valued at $3,728,000 after buying an additional 693 shares during the period. Finally, RPg Family Wealth Advisory LLC bought a new stake in shares of Thermo Fisher Scientific during the third quarter worth $50,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the transaction, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This represents a 26.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’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 $175,677.00. Following the transaction, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. This 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 valued at $13,106,062 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TMO. Royal Bank of Canada set a $693.00 price objective on Thermo Fisher Scientific in a research report on Friday, January 31st. 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 report on Friday, January 31st. Scotiabank increased their price target on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research note on Monday, February 3rd. Raymond James reissued an “outperform” rating and issued a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Finally, Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective on the stock in a research report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $653.23.

Thermo Fisher Scientific Trading Down 0.4 %

NYSE TMO opened at $511.69 on Friday. The business has a 50 day simple moving average of $542.80 and a 200 day simple moving average of $553.64. The stock has a market capitalization of $193.04 billion, a P/E ratio of 30.96, a P/E/G ratio of 2.99 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88.

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

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.43 dividend. The ex-dividend date is Friday, March 14th. This represents a $1.72 annualized dividend and a dividend yield of 0.34%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio is currently 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.