Oak Harvest Investment Services Trims Stock Position in Thermo Fisher Scientific Inc. $TMO

Oak Harvest Investment Services cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 90.2% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 703 shares of the medical research company’s stock after selling 6,455 shares during the quarter. Oak Harvest Investment Services’ holdings in Thermo Fisher Scientific were worth $407,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Beacon Financial Strategies CORP purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $29,000. Olistico Wealth LLC purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $29,000. JPL Wealth Management LLC purchased a new position in Thermo Fisher Scientific during the third quarter worth about $28,000. Highline Wealth Partners LLC lifted its position in Thermo Fisher Scientific by 126.9% during the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after buying an additional 33 shares during the period. Finally, Cloud Capital Management LLC purchased a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth about $31,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Barclays cut their price objective on Thermo Fisher Scientific from $650.00 to $625.00 and set an “overweight” rating on the stock in a report on Tuesday, April 14th. UBS Group restated a “neutral” rating and issued a $615.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Evercore restated an “outperform” rating and issued a $650.00 price objective on shares of Thermo Fisher Scientific in a report on Monday, January 5th. Finally, Wells Fargo & Company set a $683.00 price objective on Thermo Fisher Scientific in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $631.25.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 5,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $512.40, for a total value of $2,562,000.00. Following the completion of the transaction, the chief executive officer owned 123,925 shares in the company, valued at approximately $63,499,170. This trade represents a 3.88% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the transaction, the executive vice president owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their position. The SEC filing for this sale provides additional information. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $526.04 on Friday. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The business has a 50 day moving average price of $501.60 and a two-hundred day moving average price of $550.79. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The firm has a market cap of $195.49 billion, a PE ratio of 29.65, a price-to-earnings-growth ratio of 2.76 and a beta of 0.97.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. During the same quarter last year, the firm earned $6.10 EPS. Thermo Fisher Scientific’s quarterly revenue was up 7.2% on a year-over-year basis. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. The ex-dividend date was Friday, March 13th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s payout ratio is 10.60%.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.