Cahaba Wealth Management Inc. Has $308,000 Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cahaba Wealth Management Inc. trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMOFree Report) by 11.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 581 shares of the medical research company’s stock after selling 75 shares during the period. Cahaba Wealth Management Inc.’s holdings in Thermo Fisher Scientific were worth $308,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of TMO. Bornite Capital Management LP increased its stake in Thermo Fisher Scientific by 50.0% in the first quarter. Bornite Capital Management LP now owns 30,000 shares of the medical research company’s stock valued at $17,719,000 after purchasing an additional 10,000 shares in the last quarter. Fairfield Bush & CO. lifted its stake in Thermo Fisher Scientific by 1.2% in the first quarter. Fairfield Bush & CO. now owns 2,928 shares of the medical research company’s stock valued at $1,729,000 after acquiring an additional 36 shares during the last quarter. Loomis Sayles & Co. L P increased its position in Thermo Fisher Scientific by 563.5% during the first quarter. Loomis Sayles & Co. L P now owns 19,844 shares of the medical research company’s stock worth $11,721,000 after acquiring an additional 16,853 shares during the period. Covestor Ltd grew its holdings in shares of Thermo Fisher Scientific by 60.5% during the 1st quarter. Covestor Ltd now owns 321 shares of the medical research company’s stock valued at $190,000 after purchasing an additional 121 shares during the last quarter. Finally, Merit Financial Group LLC grew its holdings in Thermo Fisher Scientific by 3.6% during the 1st quarter. Merit Financial Group LLC now owns 669 shares of the medical research company’s stock worth $395,000 after acquiring an additional 23 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Thermo Fisher Scientific

In other news, Director Debora L. Spar sold 164 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the transaction, the director now owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Debora L. Spar sold 164 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $546.97, for a total transaction of $89,703.08. Following the transaction, the director now owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total value of $5,556,300.00. Following the sale, the chief executive officer now owns 49,155 shares in the company, valued at $27,311,992.65. The disclosure for this sale can be found here. Insiders have sold a total of 50,277 shares of company stock valued at $28,513,384 over the last 90 days. Insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock traded down $5.42 during midday trading on Tuesday, hitting $572.03. 1,381,269 shares of the company’s stock were exchanged, compared to its average volume of 1,601,800. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.75. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $603.82. The firm’s 50 day simple moving average is $566.95 and its 200 day simple moving average is $521.68. The stock has a market cap of $218.12 billion, a price-to-earnings ratio of 36.92, a price-to-earnings-growth ratio of 2.44 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMOGet Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The medical research company reported $5.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.64 by $0.03. The firm had revenue of $10.89 billion for the quarter, compared to analysts’ expectations of $10.73 billion. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. During the same period in the prior year, the company posted $5.40 earnings per share. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.52 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be issued a $0.39 dividend. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date is Thursday, March 14th. Thermo Fisher Scientific’s payout ratio is presently 10.10%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TMO. Citigroup assumed coverage on shares of Thermo Fisher Scientific in a report on Monday, March 18th. They issued a “neutral” rating and a $620.00 price target on the stock. Sanford C. Bernstein reiterated a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Royal Bank of Canada upped their price target on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Raymond James increased their price target on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an “outperform” rating in a report on Thursday, February 1st. Finally, Wolfe Research began coverage on shares of Thermo Fisher Scientific in a report on Wednesday, December 13th. They set an “outperform” rating and a $575.00 price objective on the stock. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $599.00.

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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 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.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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