Providence Capital Advisors LLC Raises Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Providence Capital Advisors LLC boosted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 13,886 shares of the medical research company’s stock after buying an additional 134 shares during the quarter. Thermo Fisher Scientific accounts for about 1.5% of Providence Capital Advisors LLC’s portfolio, making the stock its 14th largest holding. Providence Capital Advisors LLC’s holdings in Thermo Fisher Scientific were worth $7,224,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TMO. Howard Capital Management Group LLC lifted its stake in shares of Thermo Fisher Scientific by 0.5% in the 3rd quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company’s stock valued at $33,759,000 after purchasing an additional 286 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Thermo Fisher Scientific by 22.1% during the third quarter. Principal Financial Group Inc. now owns 1,247,838 shares of the medical research company’s stock worth $771,876,000 after acquiring an additional 225,568 shares during the period. D.A. Davidson & CO. boosted its stake in shares of Thermo Fisher Scientific by 2.0% in the 3rd quarter. D.A. Davidson & CO. now owns 10,158 shares of the medical research company’s stock valued at $6,283,000 after buying an additional 201 shares during the period. CreativeOne Wealth LLC raised its holdings in shares of Thermo Fisher Scientific by 13.0% in the 3rd quarter. CreativeOne Wealth LLC now owns 6,027 shares of the medical research company’s stock valued at $3,728,000 after purchasing an additional 693 shares in the last quarter. Finally, RPg Family Wealth Advisory LLC acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth about $50,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 0.4 %

TMO stock opened at $511.69 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company’s 50-day simple moving average is $542.80 and its 200 day simple moving average is $553.64. The company has a market capitalization of $193.04 billion, a PE ratio of 30.96, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.43 per share. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.72 annualized dividend and a dividend yield of 0.34%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.41%.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the sale, the chief executive officer now directly owns 115,174 shares of the company’s stock, valued at $59,506,950.58. This trade represents a 7.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,900 shares of company stock worth $13,106,062. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of recent research reports. Scotiabank increased their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research note on Monday, February 3rd. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price on the stock in a research report on Friday, January 10th. UBS Group boosted their price objective on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Royal Bank of Canada set a $693.00 price objective on Thermo Fisher Scientific in a research report on Friday, January 31st. Finally, Citigroup lowered their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $653.23.

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.