Colonial River Investments LLC Invests $586,000 in Thermo Fisher Scientific Inc. (NYSE:TMO)

Colonial River Investments LLC acquired a new position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,178 shares of the medical research company's stock, valued at approximately $586,000.

Several other hedge funds have also recently bought and sold shares of TMO. LaFleur & Godfrey LLC raised its stake in shares of Thermo Fisher Scientific by 9.1% during the fourth quarter. LaFleur & Godfrey LLC now owns 29,767 shares of the medical research company's stock valued at $15,486,000 after purchasing an additional 2,488 shares during the period. Brighton Jones LLC increased its position in shares of Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock worth $2,293,000 after acquiring an additional 988 shares during the last quarter. Revolve Wealth Partners LLC increased its holdings in shares of Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock valued at $255,000 after acquiring an additional 20 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company's stock valued at $79,677,000 after acquiring an additional 461 shares during the last quarter. Finally, NewEdge Wealth LLC increased its holdings in shares of Thermo Fisher Scientific by 6.1% in the 4th quarter. NewEdge Wealth LLC now owns 13,964 shares of the medical research company's stock valued at $7,264,000 after acquiring an additional 797 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $407.67 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $627.88. 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 company has a 50-day moving average of $409.74 and a 200-day moving average of $483.58. The firm has a market cap of $153.89 billion, a price-to-earnings ratio of 23.91, a price-to-earnings-growth ratio of 2.17 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data 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 business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. During the same period last year, the company posted $5.11 EPS. The company's revenue was up .2% compared to the same quarter last year. 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 company 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 $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio is 10.09%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TMO shares. Evercore ISI lowered their target price on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Royal Bank Of Canada lowered their price objective on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group set a $610.00 target price on Thermo Fisher Scientific and gave the company a "buy" rating in a report on Wednesday, April 23rd. Stifel Nicolaus lowered their price objective on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Citigroup lowered their price target on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $604.05.

Insider Buying and Selling

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

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.

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