Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by CCM Investment Advisers LLC

Posted by Defense World Staff on Sep 13th, 2023

CCM Investment Advisers LLC grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 9.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,064 shares of the medical research company’s stock after purchasing an additional 2,244 shares during the period. Thermo Fisher Scientific makes up 2.1% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 12th largest position. CCM Investment Advisers LLC’s holdings in Thermo Fisher Scientific were worth $15,023,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of TMO. Arrowstreet Capital Limited Partnership raised its holdings in shares of Thermo Fisher Scientific by 3.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 681,679 shares of the medical research company’s stock valued at $392,899,000 after buying an additional 24,376 shares during the period. First Manhattan CO. LLC. raised its holdings in shares of Thermo Fisher Scientific by 11.2% in the 1st quarter. First Manhattan CO. LLC. now owns 724,844 shares of the medical research company’s stock valued at $417,779,000 after buying an additional 72,792 shares during the period. Aureus Asset Management LLC raised its holdings in shares of Thermo Fisher Scientific by 0.6% in the 4th quarter. Aureus Asset Management LLC now owns 50,945 shares of the medical research company’s stock valued at $28,055,000 after buying an additional 291 shares during the period. Aveo Capital Partners LLC increased its holdings in Thermo Fisher Scientific by 12.2% during the 1st quarter. Aveo Capital Partners LLC now owns 690 shares of the medical research company’s stock worth $398,000 after purchasing an additional 75 shares during the period. Finally, American Planning Services Inc. increased its holdings in Thermo Fisher Scientific by 149,900.0% during the 4th quarter. American Planning Services Inc. now owns 1,500 shares of the medical research company’s stock worth $826,000 after purchasing an additional 1,499 shares during the period. Institutional investors and hedge funds own 87.06% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $549.00, for a total transaction of $5,490,000.00. Following the completion of the transaction, the chief executive officer now directly owns 141,330 shares of the company’s stock, valued at approximately $77,590,170. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CFO Stephen Williamson sold 14,100 shares of the stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $550.00, for a total transaction of $7,755,000.00. Following the completion of the transaction, the chief financial officer now directly owns 27,393 shares of the company’s stock, valued at approximately $15,066,150. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $549.00, for a total value of $5,490,000.00. Following the transaction, the chief executive officer now directly owns 141,330 shares of the company’s stock, valued at $77,590,170. The disclosure for this sale can be found here. In the last three months, insiders sold 28,700 shares of company stock valued at $15,799,270. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on TMO shares. Citigroup started coverage on Thermo Fisher Scientific in a report on Wednesday, September 6th. They set a “buy” rating and a $625.00 price target on the stock. Raymond James upped their price target on Thermo Fisher Scientific from $595.00 to $630.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Robert W. Baird lowered their price objective on Thermo Fisher Scientific from $664.00 to $625.00 and set an “outperform” rating for the company in a research report on Thursday, July 27th. KeyCorp lowered their price objective on Thermo Fisher Scientific from $710.00 to $640.00 in a research report on Thursday, May 25th. Finally, JPMorgan Chase & Co. upped their price objective on Thermo Fisher Scientific from $660.00 to $670.00 in a research report on Thursday, July 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $631.71.

Read Our Latest Analysis on TMO

Thermo Fisher Scientific Stock Down 0.8 %

Shares of NYSE TMO opened at $510.98 on Wednesday. The stock has a market cap of $197.21 billion, a PE ratio of 34.93, a price-to-earnings-growth ratio of 2.51 and a beta of 0.77. The company has a quick ratio of 1.02, a current ratio of 1.42 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a 52-week low of $475.77 and a 52-week high of $609.85. The business has a 50-day moving average price of $540.56 and a 200 day moving average price of $542.09.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last posted its quarterly earnings data on Wednesday, July 26th. The medical research company reported $5.15 earnings per share for the quarter, missing analysts’ consensus estimates of $5.43 by ($0.28). Thermo Fisher Scientific had a return on equity of 18.59% and a net margin of 13.14%. The company had revenue of $10.69 billion for the quarter, compared to analyst estimates of $10.99 billion. During the same period in the previous year, the business posted $5.51 earnings per share. The firm’s revenue was down 2.6% compared to the same quarter last year. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 22.37 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.40 dividend on an annualized basis and a yield of 0.27%. Thermo Fisher Scientific’s payout ratio is 9.57%.

Thermo Fisher Scientific 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.