1,100 Shares in Thermo Fisher Scientific Inc. (NYSE:TMO) Bought by Arete Wealth Advisors LLC

Posted by Defense World Staff on Sep 16th, 2023

Arete Wealth Advisors LLC purchased a new position in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,100 shares of the medical research company’s stock, valued at approximately $634,000.

Other large investors also recently bought and sold shares of the company. Arrowstreet Capital Limited Partnership increased its position in Thermo Fisher Scientific by 3.7% during the first quarter. Arrowstreet Capital Limited Partnership now owns 681,679 shares of the medical research company’s stock valued at $392,899,000 after acquiring an additional 24,376 shares during the last quarter. American Trust increased its position in Thermo Fisher Scientific by 13.2% during the first quarter. American Trust now owns 6,743 shares of the medical research company’s stock valued at $3,886,000 after acquiring an additional 784 shares during the last quarter. First Manhattan CO. LLC. increased its position in Thermo Fisher Scientific by 11.2% during the first quarter. First Manhattan CO. LLC. now owns 724,844 shares of the medical research company’s stock valued at $417,779,000 after acquiring an additional 72,792 shares during the last quarter. Aureus Asset Management LLC increased its position in Thermo Fisher Scientific by 0.6% during the fourth quarter. Aureus Asset Management LLC now owns 50,945 shares of the medical research company’s stock valued at $28,055,000 after acquiring an additional 291 shares during the last quarter. Finally, Aveo Capital Partners LLC increased its position in Thermo Fisher Scientific by 12.2% during the first quarter. Aveo Capital Partners LLC now owns 690 shares of the medical research company’s stock valued at $398,000 after acquiring an additional 75 shares during the last quarter. Institutional investors own 87.06% of the company’s stock.

Insider Activity

In other news, EVP Gianluca Pettiti sold 3,000 shares of the company’s stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the transaction, the executive vice president now owns 17,556 shares in the company, valued at $9,792,210.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $549.00, for a total transaction of $5,490,000.00. Following the transaction, the chief executive officer now owns 141,330 shares in the company, valued at $77,590,170. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 3,000 shares of the stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the completion of the transaction, the executive vice president now owns 17,556 shares in the company, valued at approximately $9,792,210.12. The disclosure for this sale can be found here. Insiders have sold a total of 28,700 shares of company stock worth $15,799,270 over the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $515.42 on Friday. The company has a market capitalization of $198.93 billion, a PE ratio of 35.23, a P/E/G ratio of 2.43 and a beta of 0.77. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.02 and a current ratio of 1.42. The company has a 50-day simple moving average of $540.34 and a two-hundred day simple moving average of $541.69. Thermo Fisher Scientific Inc. has a one year low of $475.77 and a one year high of $609.85.

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

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Shareholders of record on Friday, September 15th will be issued a $0.35 dividend. 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 dividend payout ratio is presently 9.57%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TMO. Wells Fargo & Company boosted their target price on shares of Thermo Fisher Scientific from $505.00 to $520.00 and gave the company an “underweight” rating in a research note on Friday, July 28th. JPMorgan Chase & Co. boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $670.00 in a research note on Thursday, July 27th. Royal Bank of Canada boosted their target price on shares of Thermo Fisher Scientific from $662.00 to $698.00 in a research note on Thursday, July 27th. Citigroup began coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, September 6th. They set a “buy” rating and a $625.00 target price for the company. Finally, Barclays boosted their target price on shares of Thermo Fisher Scientific from $590.00 to $625.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $631.71.

Check Out Our Latest Analysis on Thermo Fisher Scientific

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.