Auto Owners Insurance Co Purchases 283,810 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Auto Owners Insurance Co increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 6,773.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 288,000 shares of the medical research company's stock after acquiring an additional 283,810 shares during the quarter. Thermo Fisher Scientific comprises approximately 2.7% of Auto Owners Insurance Co's portfolio, making the stock its 13th biggest position. Auto Owners Insurance Co owned 0.08% of Thermo Fisher Scientific worth $143,309,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TMO. Brighton Jones LLC raised its holdings in Thermo Fisher Scientific by 28.9% in the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock worth $2,293,000 after purchasing an additional 988 shares in the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock valued at $255,000 after acquiring an additional 20 shares in the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company's stock valued at $79,677,000 after acquiring an additional 461 shares in the last quarter. Taikang Asset Management Hong Kong Co Ltd increased its holdings in shares of Thermo Fisher Scientific by 21.4% during the fourth quarter. Taikang Asset Management Hong Kong Co Ltd now owns 17,516 shares of the medical research company's stock valued at $9,112,000 after acquiring an additional 3,084 shares in the last quarter. Finally, Modern Wealth Management LLC increased its holdings in shares of Thermo Fisher Scientific by 6.3% during the fourth quarter. Modern Wealth Management LLC now owns 5,834 shares of the medical research company's stock valued at $3,225,000 after acquiring an additional 344 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Analyst Ratings Changes

TMO has been the subject of several analyst reports. Raymond James Financial restated an "outperform" rating and set a $535.00 price target (up from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday. Argus reduced their price target on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Barclays raised their price target on Thermo Fisher Scientific from $450.00 to $490.00 and gave the company an "equal weight" rating in a report on Thursday. Robert W. Baird lifted their price objective on Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an "outperform" rating in a report on Thursday. Finally, UBS Group lifted their price objective on Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $593.00.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the sale, the executive vice president owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock traded up $3.58 during trading hours on Friday, reaching $478.61. 4,191,526 shares of the company traded hands, compared to its average volume of 3,108,119. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $627.88. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.38. The company has a market cap 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. The firm has a 50-day moving average price of $413.76 and a 200 day moving average price of $470.22.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $10.68 billion. During the same period in the previous year, the firm earned $5.37 EPS. The business's quarterly revenue was up 2.9% on a year-over-year basis. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business 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 dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.36%. Thermo Fisher Scientific's payout ratio is currently 10.09%.

Thermo Fisher Scientific 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.