CCM Investment Advisers LLC Has $16.06 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

CCM Investment Advisers LLC grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.6% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 29,039 shares of the medical research company’s stock after acquiring an additional 169 shares during the quarter. Thermo Fisher Scientific accounts for approximately 1.9% of CCM Investment Advisers LLC’s investment portfolio, making the stock its 17th biggest position. CCM Investment Advisers LLC’s holdings in Thermo Fisher Scientific were worth $16,059,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. LifeSteps Financial Inc. bought a new position in shares of Thermo Fisher Scientific during the first quarter worth approximately $31,000. Northwest Financial Advisors bought a new position in Thermo Fisher Scientific during the 4th quarter worth $29,000. True Wealth Design LLC lifted its position in shares of Thermo Fisher Scientific by 1,275.0% during the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 51 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth $32,000. Finally, Bank & Trust Co acquired a new position in Thermo Fisher Scientific in the second quarter valued at about $33,000. 89.23% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TMO has been the topic of several recent analyst reports. TD Cowen raised their target price on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a report on Thursday, July 25th. Barclays lowered their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. Deutsche Bank Aktiengesellschaft raised their target price on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a report on Thursday, April 25th. Robert W. Baird upped their price objective on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Finally, Evercore ISI decreased their target price 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. Five research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $618.94.

Thermo Fisher Scientific Trading Down 0.6 %

Shares of NYSE:TMO traded down $3.86 during mid-day trading on Friday, reaching $596.18. 939,843 shares of the company’s stock were exchanged, compared to its average volume of 1,561,510. The firm has a market capitalization of $227.74 billion, a price-to-earnings ratio of 38.24, a PEG ratio of 2.80 and a beta of 0.77. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $622.30. The business’s fifty day moving average price is $567.54 and its 200-day moving average price is $569.54. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating analysts’ consensus estimates of $5.13 by $0.24. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business’s revenue was down 1.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.15 EPS. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 21.71 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total value of $5,672,800.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at $70,238,340.48. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value of $5,672,800.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $70,238,340.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares in the company, valued at $10,747,403.95. The disclosure for this sale can be found here. Insiders sold a total of 33,084 shares of company stock worth $19,767,092 over the last three months. 0.34% of the stock is owned by company 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.