Blueshift Asset Management LLC Invests $460,000 in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Blueshift Asset Management LLC has invested $460,000 in Thermo Fisher Scientific, acquiring 925 shares of the company in the first quarter.
• Analysts have mixed ratings for Thermo Fisher Scientific, with six holding a "hold" rating and sixteen issuing a "buy" rating, while the average price target stands at $593.00.
• Thermo Fisher Scientific has reported quarterly earnings of $5.36 per share, exceeding expectations and showing a 2.9% year-over-year revenue increase to $10.86 billion.

Blueshift Asset Management LLC acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 925 shares of the medical research company's stock, valued at approximately $460,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Cypress Advisory Group LLC acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $253,000. GAMMA Investing LLC raised its holdings in Thermo Fisher Scientific by 22.0% in the 1st quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock valued at $2,419,000 after acquiring an additional 877 shares during the last quarter. Deutsche Bank AG lifted its stake in shares of Thermo Fisher Scientific by 9.5% during the 4th quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock worth $687,553,000 after purchasing an additional 114,277 shares during the period. Hancock Whitney Corp boosted its holdings in shares of Thermo Fisher Scientific by 0.6% during the fourth quarter. Hancock Whitney Corp now owns 5,386 shares of the medical research company's stock worth $2,802,000 after purchasing an additional 30 shares during the last quarter. Finally, Cetera Trust Company N.A grew its position in shares of Thermo Fisher Scientific by 3.3% in the first quarter. Cetera Trust Company N.A now owns 4,646 shares of the medical research company's stock valued at $2,312,000 after purchasing an additional 150 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Analyst Ratings Changes

TMO has been the topic of a number of research analyst reports. Stifel Nicolaus decreased their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Hsbc Global Res cut shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. UBS Group upped their price target on shares of Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Scotiabank upgraded shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target on the stock in a report on Friday, July 11th. Finally, The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and an average price target of $593.00.

Thermo Fisher Scientific Stock Down 1.1%

Shares of NYSE:TMO opened at $462.74 on Friday. The company has a market capitalization of $174.68 billion, a price-to-earnings ratio of 26.76, a price-to-earnings-growth ratio of 2.50 and a beta of 0.77. The company has a 50 day moving average of $420.88 and a two-hundred day moving average of $467.66. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results 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 net margin of 15.24% and a return on equity of 16.82%. The business had revenue of $10.86 billion during the quarter, compared to analyst estimates of $10.68 billion. During the same period last year, the business earned $5.37 EPS. The business's revenue was up 2.9% on a year-over-year basis. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share 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. Shareholders of record on Monday, September 15th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.95%.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $479.98, for a total transaction of $191,992.00. Following the completion of the transaction, the executive vice president directly owned 22,367 shares in the company, valued at approximately $10,735,712.66. This represents a 1.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.