KMG Fiduciary Partners LLC Boosts Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

KMG Fiduciary Partners LLC boosted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 11.1% in the first quarter, Holdings Channel reports. The fund owned 5,038 shares of the medical research company’s stock after purchasing an additional 503 shares during the quarter. KMG Fiduciary Partners LLC’s holdings in Thermo Fisher Scientific were worth $2,507,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Bernard Wealth Management Corp. purchased a new stake in Thermo Fisher Scientific during the fourth quarter valued at $25,000. FPC Investment Advisory Inc. purchased a new stake in Thermo Fisher Scientific in the fourth quarter worth about $28,000. Pillar Financial Advisors LLC purchased a new stake in Thermo Fisher Scientific in the fourth quarter worth about $29,000. Ameriflex Group Inc. purchased a new stake in Thermo Fisher Scientific in the fourth quarter worth about $30,000. Finally, Noble Wealth Management PBC purchased a new stake in Thermo Fisher Scientific in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of analyst reports. Evercore ISI reduced their price target on Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Wells Fargo & Company reduced their price target on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Argus reduced their price target on Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. Finally, Stifel Nicolaus cut their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $605.30.

Insider Activity at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 3,775 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the sale, the senior vice president now directly owns 10,816 shares of the company’s stock, valued at $5,759,736.32. This trade represents a 25.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president now directly owns 23,167 shares of the company’s stock, valued at $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $401.99 on Friday. The stock has a 50 day moving average of $420.74 and a 200 day moving average of $495.81. Thermo Fisher Scientific Inc. has a 12 month low of $390.50 and a 12 month high of $627.88. The firm has a market cap of $151.75 billion, a PE ratio of 24.32, a PEG ratio of 2.99 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. During the same period in the prior year, the company earned $5.11 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific’s payout ratio is presently 10.09%.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, 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, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.