Beech Hill Advisors Inc. Takes $2.23 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Beech Hill Advisors Inc. purchased a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 4,490 shares of the medical research company's stock, valued at approximately $2,234,000.

Other hedge funds have also recently modified their holdings of the company. LaFleur & Godfrey LLC lifted its stake in shares of Thermo Fisher Scientific by 9.1% in the 4th quarter. LaFleur & Godfrey LLC now owns 29,767 shares of the medical research company's stock valued at $15,486,000 after purchasing an additional 2,488 shares during the last quarter. Brighton Jones LLC raised its holdings in Thermo Fisher Scientific by 28.9% in the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock valued at $2,293,000 after buying an additional 988 shares during the period. Revolve Wealth Partners LLC boosted its stake in 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 worth $255,000 after buying an additional 20 shares during the period. Bank Pictet & Cie Europe AG raised its stake in shares of Thermo Fisher Scientific by 0.3% in the 4th 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 during the period. Finally, Y Intercept Hong Kong Ltd lifted its holdings in shares of Thermo Fisher Scientific by 15.0% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 2,882 shares of the medical research company's stock worth $1,499,000 after acquiring an additional 375 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Up 0.3%

Shares of NYSE:TMO traded up $1.37 on Thursday, hitting $412.02. 2,926,073 shares of the company's stock were exchanged, compared to its average volume of 1,955,519. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88. The company has a market capitalization of $155.53 billion, a PE ratio of 24.17, a P/E/G ratio of 2.13 and a beta of 0.78. 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's 50-day moving average is $410.39 and its 200 day moving average is $485.33.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results 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 company 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%. The firm's revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $5.11 earnings per share. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific's payout ratio is 10.09%.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction 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 transaction, the executive vice president now directly owns 23,167 shares in the company, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TMO. Scotiabank cut their target price on Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating on the stock in a research report on Friday, April 25th. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Robert W. Baird cut their price target on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company lowered their price objective on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, UBS Group reduced their target price on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and an average price target of $604.05.

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.