Biltmore Wealth Management LLC Purchases 55 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Biltmore Wealth Management LLC raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,510 shares of the medical research company’s stock after buying an additional 55 shares during the quarter. Thermo Fisher Scientific comprises approximately 0.3% of Biltmore Wealth Management LLC’s portfolio, making the stock its 26th biggest position. Biltmore Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $788,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TMO. MJP Associates Inc. ADV lifted its holdings in shares of Thermo Fisher Scientific by 4.6% during the second quarter. MJP Associates Inc. ADV now owns 1,174 shares of the medical research company’s stock valued at $613,000 after purchasing an additional 52 shares in the last quarter. Jacobs & Co. CA boosted its holdings in shares of Thermo Fisher Scientific by 845.1% during the 2nd quarter. Jacobs & Co. CA now owns 6,729 shares of the medical research company’s stock valued at $3,510,000 after acquiring an additional 6,017 shares during the last quarter. Legacy Bridge LLC raised its holdings in shares of Thermo Fisher Scientific by 3.1% during the second quarter. Legacy Bridge LLC now owns 2,206 shares of the medical research company’s stock valued at $1,151,000 after purchasing an additional 67 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Thermo Fisher Scientific by 7.9% in the second quarter. Harbor Capital Advisors Inc. now owns 1,054 shares of the medical research company’s stock worth $550,000 after purchasing an additional 77 shares during the last quarter. Finally, ARS Investment Partners LLC raised its stake in Thermo Fisher Scientific by 2.3% during the 2nd quarter. ARS Investment Partners LLC now owns 3,282 shares of the medical research company’s stock valued at $1,712,000 after buying an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on TMO. KeyCorp reduced their price objective on Thermo Fisher Scientific from $710.00 to $640.00 in a research report on Thursday, May 25th. Raymond James raised their price objective on shares of Thermo Fisher Scientific from $595.00 to $630.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. Wells Fargo & Company increased their price target on shares of Thermo Fisher Scientific from $505.00 to $520.00 and gave the stock an “underweight” rating in a research report on Friday, July 28th. Royal Bank of Canada upped their price objective on Thermo Fisher Scientific from $662.00 to $698.00 in a research note on Thursday, July 27th. Finally, Credit Suisse Group raised Thermo Fisher Scientific from a “neutral” rating to an “outperform” rating and set a $620.00 price target for the company in a report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $631.71.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 14,100 shares of the company’s 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 sale, the chief financial officer now directly owns 27,393 shares in the company, valued at $15,066,150. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, EVP Gianluca Pettiti sold 3,000 shares of Thermo Fisher Scientific 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 completion of the sale, the executive vice president now owns 17,556 shares in the company, valued at approximately $9,792,210.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephen Williamson sold 14,100 shares of the company’s stock in a transaction dated 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 owns 27,393 shares in the company, valued at $15,066,150. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,700 shares of company stock valued at $15,799,270. Insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Price Performance

NYSE TMO traded down $4.73 on Monday, reaching $510.80. The company had a trading volume of 417,321 shares, compared to its average volume of 1,495,098. Thermo Fisher Scientific Inc. has a 12 month low of $475.77 and a 12 month high of $609.85. The company has a quick ratio of 1.02, a current ratio of 1.42 and a debt-to-equity ratio of 0.67. The firm’s 50 day moving average price is $540.37 and its 200 day moving average price is $541.53. The stock has a market capitalization of $197.14 billion, a PE ratio of 35.24, a price-to-earnings-growth ratio of 2.43 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 26th. The medical research company reported $5.15 earnings per share for the quarter, missing the consensus estimate of $5.43 by ($0.28). The firm had revenue of $10.69 billion for the quarter, compared to analysts’ expectations of $10.99 billion. Thermo Fisher Scientific had a net margin of 13.14% and a return on equity of 18.59%. The business’s quarterly revenue was down 2.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.51 EPS. As a group, equities analysts predict that Thermo Fisher Scientific Inc. will post 22.37 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.57%.

About Thermo Fisher Scientific

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.