Daymark Wealth Partners LLC Buys 7,003 Shares of Thermo Fisher Scientific Inc. $TMO

Daymark Wealth Partners LLC increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 985.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,714 shares of the medical research company’s stock after purchasing an additional 7,003 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Thermo Fisher Scientific were worth $4,470,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in TMO. JPL Wealth Management LLC acquired a new stake in Thermo Fisher Scientific in the third quarter worth about $28,000. Highline Wealth Partners LLC lifted its position 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 purchasing an additional 33 shares during the period. Cloud Capital Management LLC acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $31,000. Capital A Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 825.0% during the second quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after buying an additional 66 shares during the last quarter. Finally, Elevation Wealth Partners LLC lifted its holdings in Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after buying an additional 20 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $489.71 on Wednesday. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $181.92 billion, a PE ratio of 27.60, a PEG ratio of 2.77 and a beta of 0.96. The stock’s fifty day simple moving average is $538.33 and its 200 day simple moving average is $548.25.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $12.22 billion during the quarter, compared to the consensus estimate of $11.95 billion. During the same period in the prior year, the company earned $6.10 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current 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 paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, March 13th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. Thermo Fisher Scientific’s payout ratio is presently 10.60%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 5,000 shares of the company’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 ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have commented on TMO shares. TD Cowen dropped their target price on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research report on Friday, January 30th. The Goldman Sachs Group began coverage on Thermo Fisher Scientific in a research note on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective for the company. Barclays increased their target price on Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. Finally, Stifel Nicolaus upped their price target on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 9th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $633.68.

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.