Baystate Wealth Management LLC Increases Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Posted by Defense World Staff on Mar 23rd, 2023

Baystate Wealth Management LLC lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) by 36.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 82 shares of the medical research company’s stock after acquiring an additional 22 shares during the period. Baystate Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $45,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Verity & Verity LLC increased its position in Thermo Fisher Scientific by 2.8% during the second quarter. Verity & Verity LLC now owns 1,234 shares of the medical research company’s stock worth $670,000 after buying an additional 34 shares during the period. SVB Wealth LLC increased its holdings in shares of Thermo Fisher Scientific by 3.8% in the 2nd quarter. SVB Wealth LLC now owns 7,390 shares of the medical research company’s stock valued at $4,015,000 after acquiring an additional 273 shares during the period. Sepio Capital LP boosted its stake in Thermo Fisher Scientific by 4.5% during the 3rd quarter. Sepio Capital LP now owns 787 shares of the medical research company’s stock worth $399,000 after purchasing an additional 34 shares during the period. Coston McIsaac & Partners acquired a new position in Thermo Fisher Scientific in the second quarter valued at $44,000. Finally, Ameritas Advisory Services LLC raised its holdings in shares of Thermo Fisher Scientific by 5.3% in the third quarter. Ameritas Advisory Services LLC now owns 4,607 shares of the medical research company’s stock valued at $2,337,000 after buying an additional 230 shares during the last quarter. 85.92% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 20,000 shares of the stock in a transaction on Friday, February 10th. The stock was sold at an average price of $569.18, for a total transaction of $11,383,600.00. Following the sale, the chief executive officer now owns 128,705 shares in the company, valued at approximately $73,256,311.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Marc N. Casper sold 7,500 shares of Thermo Fisher Scientific stock in a transaction dated Monday, March 13th. The shares were sold at an average price of $544.49, for a total transaction of $4,083,675.00. Following the completion of the sale, the chief executive officer now directly owns 66,655 shares in the company, valued at $36,292,980.95. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, February 10th. The shares were sold at an average price of $569.18, for a total transaction of $11,383,600.00. Following the transaction, the chief executive officer now directly owns 128,705 shares in the company, valued at approximately $73,256,311.90. The disclosure for this sale can be found here. Insiders sold a total of 30,100 shares of company stock valued at $16,966,971 in the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO stock opened at $554.32 on Thursday. The company has a market cap of $213.65 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 1.86 and a beta of 0.79. The company has a current ratio of 1.48, a quick ratio of 1.15 and a debt-to-equity ratio of 0.66. The firm has a 50 day moving average of $565.21 and a 200-day moving average of $545.15. Thermo Fisher Scientific Inc. has a 12-month low of $475.77 and a 12-month high of $618.35.

Thermo Fisher Scientific (NYSE:TMO – Get Rating) last posted its earnings results on Wednesday, February 1st. The medical research company reported $5.40 EPS for the quarter, topping analysts’ consensus estimates of $5.19 by $0.21. The company had revenue of $11.45 billion for the quarter, compared to the consensus estimate of $10.41 billion. Thermo Fisher Scientific had a return on equity of 21.42% and a net margin of 15.47%. Thermo Fisher Scientific’s quarterly revenue was up 7.0% compared to the same quarter last year. During the same period in the previous year, the business earned $6.54 earnings per share. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 23.72 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 14th. Stockholders of record on Wednesday, March 15th will be given a $0.35 dividend. The ex-dividend date is Tuesday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.30. This represents a $1.40 annualized dividend and a dividend yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio is currently 7.94%.

Analyst Ratings Changes

Several analysts have commented on TMO shares. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, March 18th. SVB Leerink lifted their price objective on shares of Thermo Fisher Scientific from $620.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. Cowen upped their price objective on shares of Thermo Fisher Scientific from $690.00 to $711.00 and gave the stock an “outperform” rating in a research report on Thursday, February 2nd. Royal Bank of Canada started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, December 6th. They issued an “outperform” rating and a $661.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 13th. They issued a “buy” rating and a $620.00 price objective for the company. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $647.00.

About Thermo Fisher Scientific

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Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.