Everhart Financial Group Inc. Purchases 999 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Everhart Financial Group Inc. raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 90.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,102 shares of the medical research company's stock after purchasing an additional 999 shares during the period. Everhart Financial Group Inc.'s holdings in Thermo Fisher Scientific were worth $1,046,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of TMO. Bernard Wealth Management Corp. bought a new position in Thermo Fisher Scientific in the 4th quarter valued at approximately $25,000. FPC Investment Advisory Inc. acquired a new position in Thermo Fisher Scientific in the 4th quarter worth about $28,000. Pillar Financial Advisors LLC bought a new position in Thermo Fisher Scientific in the fourth quarter valued at about $29,000. Ameriflex Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $30,000. Finally, Noble Wealth Management PBC acquired a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $35,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $9,960,188.31. This trade represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on TMO. Robert W. Baird decreased their price objective on Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Stifel Nicolaus lowered their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Barclays decreased their price objective on shares of 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. Wells Fargo & Company cut their price target on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Finally, Argus dropped their price objective on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of "Moderate Buy" and an average price target of $605.30.

Thermo Fisher Scientific Stock Up 0.6%

TMO traded up $2.39 during midday trading on Monday, reaching $405.15. 1,970,134 shares of the company were exchanged, compared to its average volume of 2,345,947. The company has a market cap of $152.94 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth ratio of 2.99 and a beta of 0.78. Thermo Fisher Scientific Inc. has a one year low of $390.49 and a one year high of $627.88. The company's fifty day moving average price is $416.80 and its 200 day moving average price is $491.98. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66.

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 17.51% and a net margin of 14.78%. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $0.43 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.42%. Thermo Fisher Scientific's payout ratio is presently 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.