Connors Investor Services Inc. Grows Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Connors Investor Services Inc. lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,194 shares of the medical research company's stock after acquiring an additional 665 shares during the quarter. Connors Investor Services Inc.'s holdings in Thermo Fisher Scientific were worth $9,985,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Barrett & Company Inc. bought a new stake in Thermo Fisher Scientific during the fourth quarter valued at $28,000. FPC Investment Advisory Inc. bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at about $28,000. Missouri Trust & Investment Co acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $29,000. Pillar Financial Advisors LLC acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. Finally, Endeavor Private Wealth Inc. bought a new position in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Down 0.2 %

TMO traded down $0.70 on Monday, hitting $422.85. The company had a trading volume of 1,060,477 shares, compared to its average volume of 2,210,967. Thermo Fisher Scientific Inc. has a 52-week low of $409.85 and a 52-week high of $627.88. The firm has a market capitalization of $159.62 billion, a P/E ratio of 25.58, a P/E/G ratio of 2.99 and a beta of 0.86. The stock has a fifty day simple moving average of $476.15 and a 200-day simple moving average of $520.61. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $5.10 by $0.05. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The company's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $5.11 earnings per share. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.41%. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 14th. Thermo Fisher Scientific's payout ratio is 10.09%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Citigroup reduced their price target on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Barclays dropped their price target on Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Scotiabank lowered their price objective on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating on the stock in a report on Friday, April 25th. Wells Fargo & Company lowered their target price on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, Raymond James reiterated an "outperform" rating and issued a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $607.43.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the transaction, the chief financial officer now owns 27,296 shares in the company, valued at approximately $15,984,264.64. This trade represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 24,200 shares of company stock worth $13,235,041 over the last three months. 0.33% of the stock is currently owned by corporate 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.