GAMMA Investing LLC Purchases 2,415,346 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

GAMMA Investing LLC boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 60,610.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,419,331 shares of the medical research company's stock after buying an additional 2,415,346 shares during the period. GAMMA Investing LLC owned approximately 0.64% of Thermo Fisher Scientific worth $1,203,859,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Bernard Wealth Management Corp. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $25,000. Barrett & Company Inc. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $28,000. FPC Investment Advisory Inc. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $28,000. Pillar Financial Advisors LLC purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $29,000. Finally, Ameriflex Group Inc. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $30,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 shares were sold at an average price of $429.93, for a total value 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 $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the sale, the chief executive officer now owns 115,174 shares of the company's stock, valued at $59,506,950.58. This trade represents a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 14,075 shares of company stock worth $7,305,942 over the last three months. Company insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of research analyst reports. Barclays dropped 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 report on Thursday, April 10th. Raymond James reaffirmed an "outperform" rating and set a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Scotiabank dropped their price objective on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating for the company in a report on Friday, April 25th. Argus dropped their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, Wall Street Zen raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and a consensus price target of $607.43.

Thermo Fisher Scientific Trading Down 0.3%

Shares of NYSE:TMO traded down $1.34 during midday trading on Friday, hitting $402.41. 2,521,302 shares of the stock traded hands, compared to its average volume of 1,878,887. The stock has a market capitalization of $151.91 billion, a PE ratio of 24.34, a P/E/G ratio of 2.99 and a beta of 0.82. The business's 50 day moving average is $430.85 and its two-hundred day moving average is $499.77. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a one year low of $390.50 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings data 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 net margin of 14.78% and a return on equity of 17.51%. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. During the same period in the prior year, the firm posted $5.11 earnings per share. The company's quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a yield of 0.43%. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.09%.

Thermo Fisher Scientific Company 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.