Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Raised by Bridges Investment Management Inc.

Bridges Investment Management Inc. boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 140,237 shares of the medical research company's stock after acquiring an additional 7,820 shares during the period. Thermo Fisher Scientific accounts for about 1.0% of Bridges Investment Management Inc.'s investment portfolio, making the stock its 29th largest position. Bridges Investment Management Inc.'s holdings in Thermo Fisher Scientific were worth $69,782,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $25,000. Ameriflex Group Inc. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $30,000. Cassady Schiller Wealth Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 89.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company's stock worth $36,000 after acquiring an additional 33 shares during the period. VSM Wealth Advisory LLC purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $36,000. Finally, Navigoe LLC purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $37,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 sale, the executive vice president directly owned 23,167 shares in the company, valued at $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Performance

TMO traded up $4.29 on Friday, hitting $435.02. 2,511,384 shares of the company's stock were exchanged, compared to its average volume of 1,995,412. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average of $409.39 and a two-hundred day moving average of $476.59. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $627.88. The firm has a market cap of $164.22 billion, a PE ratio of 25.51, a P/E/G ratio of 2.29 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results 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. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same period last year, the company earned $5.11 earnings per share. The firm's revenue for the quarter was up .2% on a year-over-year basis. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.40%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.09%.

Analyst Ratings Changes

Several research firms recently commented on TMO. Argus cut their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. UBS Group lowered shares of 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 report on Tuesday. Royal Bank Of Canada cut their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Finally, Evercore ISI dropped their price objective on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average 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.