Canton Hathaway LLC Boosts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Canton Hathaway LLC raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 112.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,271 shares of the medical research company's stock after acquiring an additional 1,200 shares during the quarter. Canton Hathaway LLC's holdings in Thermo Fisher Scientific were worth $1,130,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of TMO. Bernard Wealth Management Corp. bought a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $25,000. FPC Investment Advisory Inc. bought a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $28,000. Pillar Financial Advisors LLC bought a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $29,000. Ameriflex Group Inc. bought a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $30,000. Finally, Noble Wealth Management PBC bought a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $35,000. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

TMO stock traded up $4.75 during midday trading on Friday, hitting $397.31. The company's stock had a trading volume of 3,760,318 shares, compared to its average volume of 1,942,727. The stock's 50-day moving average price is $412.62 and its 200 day moving average price is $487.56. The company has a quick ratio of 1.38, a current ratio of 1.77 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The stock has a market cap of $149.98 billion, a price-to-earnings ratio of 23.30, a PEG ratio of 2.10 and a beta of 0.78.

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 (EPS) for the quarter, beating 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 return on equity of 17.15% and a net margin of 15.19%. The business's revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $5.11 earnings per share. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

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

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Argus dropped their target price on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Citigroup cut their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. 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. Finally, UBS Group cut their target price on Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $605.30.

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.