Confluence Wealth Services Inc. Invests $1.91 Million in Thermo Fisher Scientific Inc. (NYSE:TMO)

Confluence Wealth Services Inc. purchased a new stake in Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,856 shares of the medical research company’s stock, valued at approximately $1,905,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Widmann Financial Services Inc. purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at $26,000. Lee Financial Co acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $32,000. Costello Asset Management INC purchased a new stake in Thermo Fisher Scientific during the 4th quarter worth about $33,000. Moors & Cabot Inc. grew its holdings in shares of Thermo Fisher Scientific by 319.3% during the 3rd quarter. Moors & Cabot Inc. now owns 25,000 shares of the medical research company’s stock worth $37,000 after purchasing an additional 19,037 shares during the period. Finally, Cranbrook Wealth Management LLC lifted its holdings in Thermo Fisher Scientific by 43.5% in the third quarter. Cranbrook Wealth Management LLC now owns 66 shares of the medical research company’s stock worth $38,000 after acquiring an additional 20 shares during the last quarter. 87.48% of the stock is owned by institutional investors.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 2nd. The shares were sold at an average price of $545.60, for a total value of $5,456,000.00. Following the transaction, the chief executive officer now owns 183,373 shares in the company, valued at approximately $100,048,308.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Debora L. Spar sold 200 shares of the stock in a transaction on Monday, May 2nd. The shares were sold at an average price of $544.36, for a total transaction of $108,872.00. Following the completion of the transaction, the director now owns 810 shares of the company’s stock, valued at approximately $440,931.60. The disclosure for this sale can be found here. Insiders have sold a total of 13,881 shares of company stock worth $7,637,522 in the last quarter. Insiders own 0.43% of the company’s stock.

Several research firms have recently issued reports on TMO. Zacks Investment Research lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating and set a $609.00 price target on the stock. in a research report on Monday, January 24th. StockNews.com started coverage on shares of Thermo Fisher Scientific in a research note on Thursday, March 31st. They set a “hold” rating for the company. Wells Fargo & Company cut shares of Thermo Fisher Scientific from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $605.00 to $525.00 in a research note on Monday, April 25th. BTIG Research restated a “buy” rating and issued a $718.00 target price on shares of Thermo Fisher Scientific in a research note on Thursday, February 3rd. Finally, Barclays started coverage on shares of Thermo Fisher Scientific in a report on Wednesday, January 26th. They set an “overweight” rating and a $700.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Buy” and a consensus target price of $647.00.

Thermo Fisher Scientific stock traded up $5.80 during midday trading on Thursday, hitting $525.80. 1,532,662 shares of the stock were exchanged, compared to its average volume of 1,633,685. The stock has a market capitalization of $205.83 billion, a price-to-earnings ratio of 27.41, a price-to-earnings-growth ratio of 1.85 and a beta of 0.83. The company has a quick ratio of 1.10, a current ratio of 1.56 and a debt-to-equity ratio of 0.77. The business’s 50-day moving average price is $563.71 and its 200-day moving average price is $593.62. Thermo Fisher Scientific Inc. has a 52-week low of $438.72 and a 52-week high of $672.34.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last released its quarterly earnings data on Thursday, April 28th. The medical research company reported $7.25 earnings per share for the quarter, beating analysts’ consensus estimates of $6.20 by $1.05. Thermo Fisher Scientific had a net margin of 18.49% and a return on equity of 25.33%. The business had revenue of $11.82 billion during the quarter, compared to analyst estimates of $10.66 billion. During the same period last year, the business earned $7.21 EPS. Thermo Fisher Scientific’s revenue was up 19.3% compared to the same quarter last year. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 22.68 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Investors of record on Wednesday, March 16th were issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 0.23%. The ex-dividend date was Tuesday, March 15th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.26. Thermo Fisher Scientific’s dividend payout ratio is 6.26%.

Thermo Fisher Scientific Company Profile (Get Rating)

Thermo Fisher Scientific Inc offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. 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 to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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