Bridges Investment Management Inc. Acquires 7,820 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Bridges Investment Management Inc. boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 140,237 shares of the medical research company's stock after purchasing an additional 7,820 shares during the period. Thermo Fisher Scientific comprises 1.0% of Bridges Investment Management Inc.'s portfolio, making the stock its 29th largest holding. Bridges Investment Management Inc.'s holdings in Thermo Fisher Scientific were worth $69,782,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Thermo Fisher Scientific by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company's stock worth $17,297,426,000 after acquiring an additional 196,864 shares during the last quarter. Capital World Investors grew its holdings in Thermo Fisher Scientific by 1.1% during the fourth quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock valued at $4,905,812,000 after purchasing an additional 104,343 shares during the period. Geode Capital Management LLC raised its stake in shares of Thermo Fisher Scientific by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company's stock worth $4,075,540,000 after buying an additional 197,442 shares during the period. Norges Bank purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at about $3,149,754,000. Finally, Northern Trust Corp increased its holdings in Thermo Fisher Scientific by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock worth $2,034,107,000 after acquiring an additional 455,004 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insiders Place Their Bets

In other 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 transaction of $128,979.00. Following the transaction, the executive vice president directly 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on TMO. Scotiabank decreased their price target on Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating on the stock in a report on Friday, April 25th. Wall Street Zen raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Royal Bank Of Canada reduced their price objective on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Robert W. Baird dropped their target price on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Finally, Stifel Nicolaus reduced their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and an average target price of $601.05.

Thermo Fisher Scientific Trading Down 1.6%

Shares of TMO stock traded down $6.70 during trading hours on Wednesday, reaching $419.47. 2,735,091 shares of the stock were exchanged, compared to its average volume of 1,987,159. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $627.88. The firm has a market capitalization of $158.35 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 2.27 and a beta of 0.77. The company's 50-day moving average price is $409.11 and its 200-day moving average price is $478.29.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating analysts' consensus estimates 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 analysts' expectations of $10.23 billion. During the same quarter in the prior year, the firm posted $5.11 earnings per share. The company's quarterly revenue was up .2% on a year-over-year basis. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio is presently 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.