Ridgewood Investments LLC Takes $57,000 Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Posted by on Jul 11th, 2023

Ridgewood Investments LLC acquired a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 99 shares of the medical research company’s stock, valued at approximately $57,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Hanson & Doremus Investment Management increased its holdings in Thermo Fisher Scientific by 2.1% in the 4th quarter. Hanson & Doremus Investment Management now owns 873 shares of the medical research company’s stock worth $481,000 after buying an additional 18 shares during the period. Eads & Heald Wealth Management boosted its holdings in Thermo Fisher Scientific by 0.3% in the 4th quarter. Eads & Heald Wealth Management now owns 5,529 shares of the medical research company’s stock worth $3,045,000 after buying an additional 18 shares during the last quarter. Institute for Wealth Management LLC. increased its position in shares of Thermo Fisher Scientific by 1.8% during the fourth quarter. Institute for Wealth Management LLC. now owns 1,024 shares of the medical research company’s stock worth $564,000 after purchasing an additional 18 shares in the last quarter. Connecticut Wealth Management LLC boosted its stake in Thermo Fisher Scientific by 3.0% during the 1st quarter. Connecticut Wealth Management LLC now owns 614 shares of the medical research company’s stock worth $354,000 after purchasing an additional 18 shares during the last quarter. Finally, Sage Rhino Capital LLC lifted its stake in shares of Thermo Fisher Scientific by 2.6% in the first quarter. Sage Rhino Capital LLC now owns 723 shares of the medical research company’s stock worth $417,000 after buying an additional 18 shares in the last quarter. Institutional investors own 96.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on TMO shares. Evercore ISI cut their price target on shares of Thermo Fisher Scientific from $615.00 to $610.00 and set an “outperform” rating for the company in a report on Tuesday, April 4th. KeyCorp dropped their price objective on Thermo Fisher Scientific from $710.00 to $640.00 in a research note on Thursday, May 25th. Morgan Stanley dropped their target price on Thermo Fisher Scientific from $670.00 to $620.00 in a research report on Thursday, April 27th. Robert W. Baird reduced their target price on shares of Thermo Fisher Scientific from $693.00 to $670.00 in a report on Thursday, April 27th. Finally, Citigroup cut their price objective on Thermo Fisher Scientific from $700.00 to $650.00 in a research report on Thursday, April 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $629.77.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, May 5th. The shares were sold at an average price of $545.22, for a total transaction of $5,452,200.00. Following the completion of the sale, the chief executive officer now directly owns 141,330 shares in the company, valued at $77,055,942.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Marc N. Casper sold 1,600 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, May 9th. The shares were sold at an average price of $534.82, for a total transaction of $855,712.00. Following the transaction, the chief executive officer now owns 141,330 shares in the company, valued at approximately $75,586,110.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $545.22, for a total value of $5,452,200.00. Following the transaction, the chief executive officer now owns 141,330 shares in the company, valued at approximately $77,055,942.60. The disclosure for this sale can be found here. Corporate insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $516.85 on Tuesday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.92 and a current ratio of 1.27. Thermo Fisher Scientific Inc. has a one year low of $475.77 and a one year high of $611.06. The company’s fifty day moving average is $524.37 and its two-hundred day moving average is $550.11. The firm has a market capitalization of $199.36 billion, a P/E ratio of 33.69, a PEG ratio of 2.55 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last announced its quarterly earnings results on Wednesday, April 26th. The medical research company reported $5.03 earnings per share for the quarter, meeting analysts’ consensus estimates of $5.03. The business had revenue of $10.71 billion during the quarter, compared to analysts’ expectations of $10.67 billion. Thermo Fisher Scientific had a return on equity of 19.16% and a net margin of 13.75%. The business’s revenue for the quarter was down 9.4% on a year-over-year basis. During the same quarter last year, the business posted $7.25 earnings per share. Analysts forecast that Thermo Fisher Scientific Inc. will post 23.69 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 15th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $1.40 annualized dividend and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.13%.

Thermo Fisher Scientific Company Profile

(Free Report)

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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