Confluence Wealth Services Inc. Boosts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Confluence Wealth Services Inc. boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 71.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,518 shares of the medical research company's stock after acquiring an additional 1,882 shares during the quarter. Confluence Wealth Services Inc.'s holdings in Thermo Fisher Scientific were worth $2,248,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Highland Capital Management LLC grew its stake in Thermo Fisher Scientific by 3.0% in the 1st quarter. Highland Capital Management LLC now owns 35,006 shares of the medical research company's stock valued at $17,419,000 after buying an additional 1,027 shares in the last quarter. Mcdaniel Terry & Co. grew its stake in Thermo Fisher Scientific by 1.4% in the 1st quarter. Mcdaniel Terry & Co. now owns 30,674 shares of the medical research company's stock valued at $15,263,000 after buying an additional 434 shares in the last quarter. BSW Wealth Partners grew its stake in Thermo Fisher Scientific by 13.2% in the 1st quarter. BSW Wealth Partners now owns 1,457 shares of the medical research company's stock valued at $725,000 after buying an additional 170 shares in the last quarter. Mascoma Wealth Management LLC grew its stake in Thermo Fisher Scientific by 19.3% in the 1st quarter. Mascoma Wealth Management LLC now owns 1,236 shares of the medical research company's stock valued at $615,000 after buying an additional 200 shares in the last quarter. Finally, 3Chopt Investment Partners LLC purchased a new position in Thermo Fisher Scientific in the 1st quarter valued at approximately $409,000. Institutional investors own 89.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Royal Bank Of Canada reduced their price target 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. Evercore ISI cut 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 report on Thursday, April 24th. Argus cut their target price 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. UBS Group lowered 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 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 note on Tuesday, March 4th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $604.05.

Thermo Fisher Scientific Trading Down 1.1%

Shares of NYSE TMO traded down $4.45 during midday trading on Friday, hitting $407.67. 3,922,604 shares of the company traded hands, compared to its average volume of 2,584,448. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month 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 stock has a 50-day moving average price of $409.74 and a 200 day moving average price of $483.23. The firm has a market cap of $153.89 billion, a P/E ratio of 18.64, a P/E/G ratio of 2.17 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $5.10 by $0.05. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.23 billion. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. The business's revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.11 earnings per share. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued 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 (DPR) is presently 10.09%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the sale, the executive vice president now owns 23,167 shares in the company, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific 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.