Allworth Financial LP Boosts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Allworth Financial LP increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 7.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,244 shares of the medical research company's stock after acquiring an additional 1,461 shares during the period. Allworth Financial LP's holdings in Thermo Fisher Scientific were worth $10,073,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Quotient Wealth Partners LLC increased its position in Thermo Fisher Scientific by 25.5% during the 1st quarter. Quotient Wealth Partners LLC now owns 1,245 shares of the medical research company's stock worth $619,000 after purchasing an additional 253 shares in the last quarter. Bridges Investment Management Inc. grew its stake in shares of Thermo Fisher Scientific by 5.9% during the first quarter. Bridges Investment Management Inc. now owns 140,237 shares of the medical research company's stock worth $69,782,000 after buying an additional 7,820 shares during the last quarter. Topsail Wealth Management LLC lifted its stake in shares of Thermo Fisher Scientific by 96.3% in the 1st quarter. Topsail Wealth Management LLC now owns 852 shares of the medical research company's stock valued at $424,000 after acquiring an additional 418 shares during the last quarter. Moloney Securities Asset Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 40.8% during the 1st quarter. Moloney Securities Asset Management LLC now owns 3,547 shares of the medical research company's stock valued at $1,765,000 after acquiring an additional 1,028 shares in the last quarter. Finally, LBP AM SA grew its position in Thermo Fisher Scientific by 43.3% during the 1st quarter. LBP AM SA now owns 230,201 shares of the medical research company's stock worth $114,548,000 after acquiring an additional 69,507 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the completion of the sale, the executive vice president directly 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Trading Up 1.0%

Shares of TMO stock traded up $4.29 during trading hours on Friday, hitting $435.02. 2,511,384 shares of the company were exchanged, compared to its average volume of 1,995,412. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77. The firm has a market cap of $164.22 billion, a P/E ratio of 25.51, a P/E/G ratio of 2.29 and a beta of 0.77. The company has a 50 day simple moving average of $409.16 and a two-hundred day simple moving average of $477.24.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating analysts' consensus estimates 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 17.15% and a net margin of 15.19%. The firm's revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $5.11 EPS. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio is currently 10.09%.

Analyst Ratings Changes

A number of analysts have recently commented on TMO shares. UBS Group lowered Thermo Fisher Scientific from a "buy" rating to a "neutral" rating and cut their price target for the company from $500.00 to $460.00 in a research note on Tuesday. Barclays dropped their price target on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating for the company in a research note on Tuesday, June 24th. Scotiabank raised shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective on the stock in a research note on Friday. Wells Fargo & Company cut their target price on 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, Argus decreased their price target on 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. Four equities research 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 company presently has a consensus rating of "Moderate Buy" and an average target price of $600.30.

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.