Spire Wealth Management Has $960,000 Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Spire Wealth Management increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 24.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,929 shares of the medical research company’s stock after purchasing an additional 379 shares during the period. Spire Wealth Management’s holdings in Thermo Fisher Scientific were worth $960,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TMO. Vanguard Group Inc. boosted its stake in shares of Thermo Fisher Scientific by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company’s stock worth $17,297,426,000 after buying an additional 196,864 shares during the last quarter. Capital World Investors boosted its stake in shares of Thermo Fisher Scientific by 1.1% during the 4th quarter. Capital World Investors now owns 9,430,120 shares of the medical research company’s stock worth $4,905,812,000 after buying an additional 104,343 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Thermo Fisher Scientific by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company’s stock worth $4,075,540,000 after buying an additional 197,442 shares during the last quarter. Norges Bank acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $3,149,754,000. Finally, Northern Trust Corp boosted its stake in shares of Thermo Fisher Scientific by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company’s stock worth $2,034,107,000 after buying an additional 455,004 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. UBS Group cut their target price on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. Argus cut their target price on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Finally, Evercore ISI cut their target price on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $604.05.

Thermo Fisher Scientific Trading Down 1.1%

Shares of TMO stock opened at $407.67 on Friday. The firm has a 50 day moving average price of $409.74 and a two-hundred day moving average price of $483.58. The company has a quick ratio of 1.38, a current ratio of 1.77 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $153.89 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.17 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, topping the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. The company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.23 billion. During the same period last year, the firm earned $5.11 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.42%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.09%.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the transaction, the executive vice president now directly owns 23,167 shares of the company’s stock, valued at $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Company Profile

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.