Chevy Chase Trust Holdings LLC Raises Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Chevy Chase Trust Holdings LLC boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 10.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 242,572 shares of the medical research company's stock after purchasing an additional 22,368 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.06% of Thermo Fisher Scientific worth $120,704,000 at the end of the most recent reporting period.

Several other large 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 fourth quarter worth about $25,000. Pillar Financial Advisors LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $29,000. Ameriflex Group Inc. acquired a new position in Thermo Fisher Scientific in the fourth quarter valued at $30,000. Noble Wealth Management PBC bought a new stake in Thermo Fisher Scientific during the fourth quarter valued at $35,000. Finally, Cassady Schiller Wealth Management LLC grew its holdings in 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. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Up 1.5%

TMO traded up $6.08 during midday trading on Wednesday, reaching $410.45. 3,100,705 shares of the company were exchanged, compared to its average volume of 1,951,614. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $627.88. 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 company's fifty day moving average price is $410.92 and its 200 day moving average price is $485.85. The company has a market cap of $154.94 billion, a price-to-earnings ratio of 24.07, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly 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 business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. During the same period in the prior year, the firm posted $5.11 EPS. Thermo Fisher Scientific's quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

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 given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a 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 Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the transaction, the executive vice president now directly owns 23,167 shares of the company's stock, valued at $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TMO. Royal Bank Of Canada dropped their price objective on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group set a $610.00 price target on Thermo Fisher Scientific and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Argus reduced their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Citigroup dropped their target price on shares of 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. Finally, UBS Group reduced their price target on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $604.05.

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.