Cahaba Wealth Management Inc. Trims Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cahaba Wealth Management Inc. lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 558 shares of the medical research company’s stock after selling 25 shares during the period. Cahaba Wealth Management Inc.’s holdings in Thermo Fisher Scientific were worth $309,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC lifted its holdings in shares of Thermo Fisher Scientific by 3.2% during the second quarter. Lake Street Advisors Group LLC now owns 4,172 shares of the medical research company’s stock worth $2,309,000 after purchasing an additional 130 shares during the period. UNIVEST FINANCIAL Corp lifted its stake in shares of Thermo Fisher Scientific by 1.0% in the 2nd quarter. UNIVEST FINANCIAL Corp now owns 11,225 shares of the medical research company’s stock worth $6,207,000 after acquiring an additional 110 shares during the period. Candriam S.C.A. boosted its holdings in shares of Thermo Fisher Scientific by 1.1% in the second quarter. Candriam S.C.A. now owns 431,658 shares of the medical research company’s stock valued at $238,696,000 after acquiring an additional 4,571 shares in the last quarter. North Star Asset Management Inc. raised its holdings in Thermo Fisher Scientific by 0.6% during the second quarter. North Star Asset Management Inc. now owns 54,183 shares of the medical research company’s stock worth $29,963,000 after purchasing an additional 317 shares in the last quarter. Finally, Private Advisor Group LLC lifted its position in Thermo Fisher Scientific by 2.1% in the second quarter. Private Advisor Group LLC now owns 21,856 shares of the medical research company’s stock valued at $12,086,000 after purchasing an additional 451 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TMO has been the topic of a number of analyst reports. Robert W. Baird lifted their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Wells Fargo & Company initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They set an “overweight” rating and a $670.00 target price on the stock. Raymond James raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada upped their target price on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, TD Cowen lifted their price target on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $630.41.

Thermo Fisher Scientific Trading Up 0.7 %

Thermo Fisher Scientific stock opened at $611.35 on Friday. The stock has a market cap of $233.36 billion, a PE 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 has a 50-day moving average price of $584.07 and a 200 day moving average price of $577.99. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $622.30.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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. The business had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $5.15 earnings per share. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Insiders Place Their Bets

In other 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 completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at approximately $10,747,403.95. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $76,420,473.36. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 completion of the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,084 shares of company stock valued at $14,094,292. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific 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.