Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 8.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,748 shares of the medical research company's stock after acquiring an additional 1,823 shares during the quarter. Axxcess Wealth Management LLC's holdings in Thermo Fisher Scientific were worth $11,817,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of TMO. Rehmann Capital Advisory Group raised its position in shares of Thermo Fisher Scientific by 1.7% during the 1st quarter. Rehmann Capital Advisory Group now owns 2,447 shares of the medical research company's stock worth $1,218,000 after purchasing an additional 42 shares during the last quarter. Cornerstone Planning Group LLC raised its holdings in Thermo Fisher Scientific by 105.0% in the 1st quarter. Cornerstone Planning Group LLC now owns 123 shares of the medical research company's stock valued at $61,000 after acquiring an additional 63 shares during the last quarter. Brick & Kyle Associates raised its holdings in Thermo Fisher Scientific by 0.3% in the 1st quarter. Brick & Kyle Associates now owns 9,868 shares of the medical research company's stock valued at $4,828,000 after acquiring an additional 30 shares during the last quarter. Linden Thomas Advisory Services LLC raised its holdings in Thermo Fisher Scientific by 13.7% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 5,397 shares of the medical research company's stock valued at $2,686,000 after acquiring an additional 651 shares during the last quarter. Finally, Greenleaf Trust raised its holdings in Thermo Fisher Scientific by 0.7% in the 1st quarter. Greenleaf Trust now owns 12,383 shares of the medical research company's stock valued at $6,162,000 after acquiring an additional 92 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Activity at Thermo Fisher Scientific

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

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TMO shares. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Wells Fargo & Company cut their price target on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Scotiabank upgraded Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target for the company in a report on Friday. Barclays decreased 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 report on Tuesday, June 24th. Finally, Argus decreased their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $600.30.

Thermo Fisher Scientific Stock 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 1,999,630. The stock has a market capitalization of $164.22 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 2.31 and a beta of 0.77. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $627.88. The business's 50-day simple moving average is $409.39 and its two-hundred day simple moving average is $476.23. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.05. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. Thermo Fisher Scientific's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.11 earnings per share. Sell-side 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. Investors of record on Monday, September 15th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 annualized dividend and a yield of 0.40%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.09%.

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.