Essex Financial Services Inc. Trims Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Essex Financial Services Inc. trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,568 shares of the medical research company’s stock after selling 188 shares during the quarter. Essex Financial Services Inc.’s holdings in Thermo Fisher Scientific were worth $2,956,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in TMO. Accurate Wealth Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 6.3% in the third quarter. Accurate Wealth Management LLC now owns 553 shares of the medical research company’s stock valued at $268,000 after acquiring an additional 33 shares in the last quarter. Vicus Capital bought a new position in Thermo Fisher Scientific in the 3rd quarter worth about $344,000. Cambridge Investment Research Advisors Inc. grew its holdings in Thermo Fisher Scientific by 16.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 43,128 shares of the medical research company’s stock worth $21,830,000 after acquiring an additional 6,055 shares during the period. Kingswood Wealth Advisors LLC grew its position in Thermo Fisher Scientific by 14.2% in the third quarter. Kingswood Wealth Advisors LLC now owns 995 shares of the medical research company’s stock worth $504,000 after buying an additional 124 shares during the last quarter. Finally, Mission Wealth Management LP lifted its holdings in shares of Thermo Fisher Scientific by 32.8% during the 3rd quarter. Mission Wealth Management LP now owns 4,156 shares of the medical research company’s stock valued at $2,104,000 after buying an additional 1,026 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the transaction, the senior vice president now directly owns 12,901 shares in the company, valued at approximately $7,250,362. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the transaction, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Debora L. Spar sold 164 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the transaction, the director now directly owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The disclosure for this sale can be found here. Insiders sold a total of 52,277 shares of company stock valued at $29,649,264 in the last ninety days. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock traded up $5.96 during midday trading on Wednesday, reaching $574.68. The company had a trading volume of 551,233 shares, compared to its average volume of 1,541,307. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.33. The firm’s fifty day simple moving average is $574.58 and its 200-day simple moving average is $531.67. The company has a market capitalization of $219.36 billion, a P/E ratio of 36.48, a P/E/G ratio of 2.40 and a beta of 0.80. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating the consensus estimate of $4.70 by $0.41. The firm had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.59 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were paid a dividend of $0.39 per share. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio is 10.01%.

Wall Street Analyst Weigh In

TMO has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Deutsche Bank Aktiengesellschaft raised their price objective on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. HSBC boosted their price objective on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday. Royal Bank of Canada upped their price target on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Finally, Citigroup started coverage on Thermo Fisher Scientific in a research report on Monday, March 18th. They issued a “neutral” rating and a $620.00 price target for the company. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $607.35.

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.