Angeles Wealth Management LLC Increases Position in Thermo Fisher Scientific Inc. $TMO

Angeles Wealth Management LLC raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 32.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,808 shares of the medical research company’s stock after purchasing an additional 1,187 shares during the quarter. Angeles Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $2,332,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Highline Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 126.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 33 shares during the last quarter. Capital A Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Cloud Capital Management LLC acquired a new position in Thermo Fisher Scientific in the third quarter worth about $31,000. Howard Hughes Medical Institute acquired a new stake in Thermo Fisher Scientific during the second quarter valued at approximately $33,000. Finally, Elevation Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 35.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after acquiring an additional 20 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the transaction, the executive vice president owned 20,752 shares in the company, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 5,000 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 123,925 shares of the company’s stock, valued at $63,499,170. This represents a 3.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Stifel Nicolaus lifted their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a report on Friday, January 9th. Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Wells Fargo & Company set a $683.00 price target on Thermo Fisher Scientific in a report on Friday, January 30th. Finally, Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Stock Performance

TMO stock opened at $501.72 on Friday. The company has a market capitalization of $186.38 billion, a P/E ratio of 28.28, a PEG ratio of 2.99 and a beta of 0.96. 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 company has a 50-day simple moving average of $567.28 and a 200 day simple moving average of $548.32. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99.

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

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be issued a $0.47 dividend. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. The ex-dividend date of this dividend is Friday, March 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.70%.

Thermo Fisher Scientific Company 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.