Sheets Smith Wealth Management Has $705,000 Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sheets Smith Wealth Management cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 59.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,328 shares of the medical research company’s stock after selling 1,974 shares during the quarter. Sheets Smith Wealth Management’s holdings in Thermo Fisher Scientific were worth $705,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of Thermo Fisher Scientific by 0.6% during the third quarter. Vanguard Group Inc. now owns 32,760,738 shares of the medical research company’s stock worth $16,582,503,000 after purchasing an additional 180,618 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Thermo Fisher Scientific by 0.4% in the third quarter. Morgan Stanley now owns 12,418,429 shares of the medical research company’s stock valued at $6,285,838,000 after purchasing an additional 50,736 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Thermo Fisher Scientific by 2.6% during the third quarter. Northern Trust Corp now owns 3,929,225 shares of the medical research company’s stock worth $1,988,856,000 after buying an additional 99,377 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Thermo Fisher Scientific by 9.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,080,687 shares of the medical research company’s stock worth $1,559,351,000 after acquiring an additional 274,464 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Thermo Fisher Scientific by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,184,928 shares of the medical research company’s stock valued at $1,105,945,000 after purchasing an additional 8,672 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.2 %

Shares of TMO stock traded up $0.91 on Monday, reaching $573.29. 560,372 shares of the company were exchanged, compared to its average volume of 1,537,995. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.33. The company has a 50-day moving average of $575.39 and a 200-day moving average of $533.63. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $603.82. The company has a market cap of $218.83 billion, a price-to-earnings ratio of 36.71, a PEG ratio of 2.37 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. The company had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.64 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $0.39 dividend. This is a positive change 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 was Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of analyst reports. Royal Bank of Canada raised their target price on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Raymond James raised their target price on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. Deutsche Bank Aktiengesellschaft increased their price target on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. upped their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, Robert W. Baird dropped their price target on Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $607.35.

Insiders Place Their Bets

In related news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the transaction, the senior vice president now directly owns 12,901 shares in the company, valued at $7,250,362. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Michael A. Boxer sold 14,566 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the sale, the senior vice president now directly owns 12,901 shares in the company, valued at $7,250,362. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total value of $5,724,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $70,873,516.56. The disclosure for this sale can be found here. Insiders have sold 62,277 shares of company stock valued at $35,373,364 in the last three months. 0.34% of the stock is currently owned by insiders.

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.