Advisors Capital Management LLC Purchases 6,089 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Advisors Capital Management LLC lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.8% in the first quarter, Holdings Channel.com reports. The firm owned 111,169 shares of the medical research company’s stock after purchasing an additional 6,089 shares during the quarter. Thermo Fisher Scientific makes up 1.2% of Advisors Capital Management LLC’s holdings, making the stock its 13th biggest holding. Advisors Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $64,613,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Northwest Financial Advisors bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $29,000. True Wealth Design LLC grew its holdings in Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after acquiring an additional 51 shares during the last quarter. LifeSteps Financial Inc. bought a new position in shares of Thermo Fisher Scientific during the first quarter valued at about $31,000. Pineridge Advisors LLC purchased a new position in Thermo Fisher Scientific during the 4th quarter valued at about $39,000. Finally, Cape Investment Advisory Inc. raised its position in Thermo Fisher Scientific by 52.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 26 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on TMO. Citigroup began coverage on shares of Thermo Fisher Scientific in a research report on Monday, March 18th. They set a “neutral” rating and a $620.00 price objective on the stock. Deutsche Bank Aktiengesellschaft increased their target price on Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Robert W. Baird dropped their target price on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. JPMorgan Chase & Co. increased their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group boosted their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $606.47.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO traded up $5.67 during midday trading on Thursday, reaching $542.54. 1,402,436 shares of the company’s stock traded hands, compared to its average volume of 1,541,105. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $603.82. The stock has a 50 day moving average of $568.75 and a 200 day moving average of $563.67. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70. The company has a market cap of $207.10 billion, a price-to-earnings ratio of 34.80, a P/E/G ratio of 2.50 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The firm had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $70,873,516.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $70,873,516.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $567.94, for a total value of $1,135,880.00. Following the transaction, the senior vice president now directly owns 13,083 shares in the company, valued at $7,430,359.02. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,000 shares of company stock valued at $12,532,780. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Profile

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.