Advisors Preferred LLC Buys New Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Advisors Preferred LLC purchased a new position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,100 shares of the medical research company's stock, valued at approximately $1,497,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Capital World Investors lifted its position 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 valued at $4,905,812,000 after acquiring an additional 104,343 shares during the period. Geode Capital Management LLC increased its stake in 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 valued at $4,075,540,000 after purchasing an additional 197,442 shares in the last quarter. Norges Bank bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at $3,149,754,000. Northern Trust Corp increased its stake in 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 valued at $2,034,107,000 after purchasing an additional 455,004 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in shares of Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after acquiring an additional 1,433,444 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on TMO shares. Scotiabank upgraded shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 target price for the company in a research note on Friday, July 11th. UBS Group upped their target price on shares of Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a research note on Thursday. The Goldman Sachs Group set a $610.00 price target on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Wells Fargo & Company cut their price target on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating on the stock in a report on Thursday. Finally, Argus cut their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $593.00.

Thermo Fisher Scientific Price Performance

Shares of TMO traded up $3.58 during mid-day trading on Friday, hitting $478.61. The company's stock had a trading volume of 4,191,526 shares, compared to its average volume of 3,108,119. The company has a current ratio of 1.93, a quick ratio of 1.38 and a debt-to-equity ratio of 0.65. The firm has a 50-day simple moving average of $413.76 and a 200 day simple moving average of $470.22. The firm has a market capitalization of $180.67 billion, a P/E ratio of 27.68, a P/E/G ratio of 2.47 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, beating the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The firm had revenue of $10.86 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same period last year, the business posted $5.37 EPS. Thermo Fisher Scientific's quarterly revenue was up 2.9% on a year-over-year basis. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio is currently 10.09%.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president owned 23,167 shares of the company's stock, valued at $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.33% of the stock is currently owned by corporate insiders.

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.