Covea Finance Buys 3,913 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Covea Finance increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3.9% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 103,114 shares of the medical research company's stock after buying an additional 3,913 shares during the quarter. Thermo Fisher Scientific accounts for about 2.3% of Covea Finance's holdings, making the stock its 11th biggest holding. Covea Finance's holdings in Thermo Fisher Scientific were worth $51,310,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Walter & Keenan Wealth Management LLC IN ADV boosted its holdings in shares of Thermo Fisher Scientific by 9.8% during the 1st quarter. Walter & Keenan Wealth Management LLC IN ADV now owns 878 shares of the medical research company's stock valued at $437,000 after acquiring an additional 78 shares in the last quarter. Roberts Wealth Advisors LLC raised its position in Thermo Fisher Scientific by 1.2% in the first quarter. Roberts Wealth Advisors LLC now owns 8,304 shares of the medical research company's stock valued at $4,132,000 after purchasing an additional 100 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Thermo Fisher Scientific by 22.0% during the first quarter. Blue Trust Inc. now owns 1,249 shares of the medical research company's stock worth $621,000 after purchasing an additional 225 shares during the last quarter. ORG Wealth Partners LLC increased its stake in shares of Thermo Fisher Scientific by 6.6% in the first quarter. ORG Wealth Partners LLC now owns 979 shares of the medical research company's stock valued at $473,000 after buying an additional 61 shares during the period. Finally, Trivant Custom Portfolio Group LLC raised its holdings in Thermo Fisher Scientific by 2.3% in the 1st quarter. Trivant Custom Portfolio Group LLC now owns 4,305 shares of the medical research company's stock valued at $2,142,000 after buying an additional 98 shares during the last quarter. Institutional investors own 89.23% of the company's stock.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the transaction, the executive vice president now directly owns 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Robert W. Baird decreased their price target 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. UBS Group decreased their price objective on Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group set a $610.00 target price on Thermo Fisher Scientific and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Barclays lowered their price objective on Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating for the company in a research report on Thursday, April 10th. Finally, Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, Thermo Fisher Scientific has a consensus rating of "Moderate Buy" and an average price target of $605.30.

Thermo Fisher Scientific Stock Up 1.2%

NYSE TMO traded up $4.75 on Friday, hitting $397.31. 3,760,318 shares of the company were exchanged, compared to its average volume of 1,942,727. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 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 market cap of $149.98 billion, a PE ratio of 23.30, a PEG ratio of 2.10 and a beta of 0.78. The stock has a fifty day moving average of $412.62 and a 200-day moving average of $487.56.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating 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 company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. During the same period last year, the business posted $5.11 EPS. The firm's revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio is currently 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.