Douglas Lane & Associates LLC Grows Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Douglas Lane & Associates LLC raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 187,198 shares of the medical research company's stock after buying an additional 4,687 shares during the period. Thermo Fisher Scientific comprises about 1.4% of Douglas Lane & Associates LLC's holdings, making the stock its 19th largest position. Douglas Lane & Associates LLC's holdings in Thermo Fisher Scientific were worth $93,150,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in TMO. Vanguard Group Inc. grew its holdings in shares of Thermo Fisher Scientific by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company's stock valued at $17,297,426,000 after acquiring an additional 196,864 shares in the last quarter. Capital World Investors raised its holdings in shares of Thermo Fisher Scientific by 1.1% in the 4th quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock worth $4,905,812,000 after purchasing an additional 104,343 shares during the period. Geode Capital Management LLC grew its stake in shares of Thermo Fisher Scientific by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company's stock worth $4,075,540,000 after acquiring an additional 197,442 shares during the period. Norges Bank purchased a new stake in Thermo Fisher Scientific during the fourth quarter valued at about $3,149,754,000. Finally, Northern Trust Corp increased its stake in shares of Thermo Fisher Scientific by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock worth $2,034,107,000 after purchasing an additional 455,004 shares in the last quarter. Institutional investors own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on TMO shares. Citigroup dropped their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Stifel Nicolaus decreased their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Evercore ISI dropped their price objective on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Barclays reduced their target price on Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and a consensus target price of $605.30.

Thermo Fisher Scientific Stock Performance

TMO stock traded down $3.48 during trading on Thursday, reaching $400.18. The stock had a trading volume of 1,382,816 shares, compared to its average volume of 1,894,055. Thermo Fisher Scientific Inc. has a 52 week low of $390.50 and a 52 week high of $627.88. The firm has a market cap of $151.07 billion, a PE ratio of 24.21, a PEG ratio of 2.99 and a beta of 0.82. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock's 50 day moving average is $424.35 and its two-hundred day moving average is $497.38.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its 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 net margin of 14.78% and a return on equity of 17.51%. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.23 billion. During the same period in the prior year, the company earned $5.11 earnings per share. The firm's revenue was up .2% on a year-over-year basis. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share 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 dividend payout ratio (DPR) is presently 10.09%.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the completion of the transaction, the executive vice president now owns 23,167 shares of the company's stock, valued at $9,960,188.31. This represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the sale, the senior vice president now directly owns 10,816 shares in the company, valued at $5,759,736.32. This trade represents a 25.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.