Cahaba Wealth Management Inc. Decreases Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cahaba Wealth Management Inc. lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 558 shares of the medical research company’s stock after selling 25 shares during the quarter. Cahaba Wealth Management Inc.’s holdings in Thermo Fisher Scientific were worth $309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lake Street Advisors Group LLC grew its holdings in Thermo Fisher Scientific by 3.2% during the 2nd quarter. Lake Street Advisors Group LLC now owns 4,172 shares of the medical research company’s stock valued at $2,309,000 after purchasing an additional 130 shares in the last quarter. UNIVEST FINANCIAL Corp grew its stake in shares of Thermo Fisher Scientific by 1.0% during the second quarter. UNIVEST FINANCIAL Corp now owns 11,225 shares of the medical research company’s stock valued at $6,207,000 after acquiring an additional 110 shares in the last quarter. Candriam S.C.A. lifted its stake in shares of Thermo Fisher Scientific by 1.1% in the second quarter. Candriam S.C.A. now owns 431,658 shares of the medical research company’s stock worth $238,696,000 after acquiring an additional 4,571 shares in the last quarter. North Star Asset Management Inc. boosted its holdings in Thermo Fisher Scientific by 0.6% in the second quarter. North Star Asset Management Inc. now owns 54,183 shares of the medical research company’s stock valued at $29,963,000 after purchasing an additional 317 shares during the last quarter. Finally, Private Advisor Group LLC grew its holdings in Thermo Fisher Scientific by 2.1% during the 2nd quarter. Private Advisor Group LLC now owns 21,856 shares of the medical research company’s stock worth $12,086,000 after acquiring an additional 451 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $611.35 on Friday. The stock’s 50 day moving average price is $584.07 and its 200 day moving average price is $577.99. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The stock has a market cap of $233.36 billion, a price-to-earnings ratio of 39.21, a PEG ratio of 2.85 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $622.30.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same quarter in the previous year, the business posted $5.15 earnings per share. The firm’s quarterly revenue was down 1.4% compared to the same quarter last year. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be given a $0.39 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Barclays lowered their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Stifel Nicolaus raised their price target on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 price objective (up previously from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Royal Bank of Canada raised their target price on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. Finally, Evercore ISI dropped their price target on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $630.41.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction dated Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the transaction, the chief accounting officer now directly owns 1,814 shares in the company, valued at $1,108,408.42. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of the business’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the sale, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at approximately $1,108,408.42. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Lisa P. Britt sold 3,624 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $613.02, for a total value of $2,221,584.48. Following the completion of the sale, the vice president now directly owns 13,699 shares of the company’s stock, valued at approximately $8,397,760.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,084 shares of company stock valued at $14,094,292. 0.34% of the stock is owned by corporate 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.