Biltmore Wealth Management LLC Has $788,000 Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Biltmore Wealth Management LLC boosted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,510 shares of the medical research company’s stock after purchasing an additional 55 shares during the period. Thermo Fisher Scientific comprises approximately 0.3% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 26th biggest position. Biltmore Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $788,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Silicon Valley Capital Partners acquired a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth approximately $29,000. OLD Mission Capital LLC acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $31,000. Live Oak Investment Partners acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at about $36,000. Grey Fox Wealth Advisors LLC acquired a new position in Thermo Fisher Scientific in the fourth quarter worth about $43,000. Finally, Barrett & Company Inc. bought a new stake in shares of Thermo Fisher Scientific in the 1st quarter valued at approximately $43,000. 87.06% of the stock is owned by institutional investors.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 14,100 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $550.00, for a total value of $7,755,000.00. Following the completion of the sale, the chief financial officer now directly owns 27,393 shares in the company, valued at $15,066,150. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, EVP Gianluca Pettiti sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the sale, the executive vice president now directly owns 17,556 shares in the company, valued at $9,792,210.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephen Williamson sold 14,100 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $550.00, for a total value of $7,755,000.00. Following the transaction, the chief financial officer now owns 27,393 shares of the company’s stock, valued at approximately $15,066,150. The disclosure for this sale can be found here. Insiders sold a total of 28,700 shares of company stock worth $15,799,270 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Raymond James upped their price target on Thermo Fisher Scientific from $595.00 to $630.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Friday. Robert W. Baird dropped their price objective on shares of Thermo Fisher Scientific from $664.00 to $625.00 and set an “outperform” rating for the company in a report on Thursday, July 27th. Barclays increased their price target on Thermo Fisher Scientific from $590.00 to $625.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. Finally, Royal Bank of Canada boosted their price objective on Thermo Fisher Scientific from $662.00 to $698.00 in a research note on Thursday, July 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $631.71.

Thermo Fisher Scientific Trading Down 0.9 %

Shares of TMO traded down $4.73 on Monday, reaching $510.80. 417,321 shares of the company’s stock were exchanged, compared to its average volume of 1,495,098. Thermo Fisher Scientific Inc. has a 12 month low of $475.77 and a 12 month high of $609.85. The stock has a market capitalization of $197.14 billion, a P/E ratio of 35.24, a price-to-earnings-growth ratio of 2.43 and a beta of 0.77. The company has a current ratio of 1.42, a quick ratio of 1.02 and a debt-to-equity ratio of 0.67. The business has a 50 day moving average price of $540.37 and a two-hundred day moving average price of $541.53.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 26th. The medical research company reported $5.15 earnings per share (EPS) for the quarter, missing the consensus estimate of $5.43 by ($0.28). Thermo Fisher Scientific had a return on equity of 18.59% and a net margin of 13.14%. The company had revenue of $10.69 billion during the quarter, compared to the consensus estimate of $10.99 billion. During the same quarter in the prior year, the business earned $5.51 earnings per share. The firm’s revenue for the quarter was down 2.6% on a year-over-year basis. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 22.37 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 13th. Stockholders of record on Friday, September 15th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, September 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio is 9.57%.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.