Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by Granite Bay Wealth Management LLC

Granite Bay Wealth Management LLC raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 12.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 10,272 shares of the medical research company's stock after purchasing an additional 1,127 shares during the period. Thermo Fisher Scientific accounts for approximately 1.8% of Granite Bay Wealth Management LLC's portfolio, making the stock its 22nd biggest holding. Granite Bay Wealth Management LLC's holdings in Thermo Fisher Scientific were worth $5,111,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth $3,149,754,000. GAMMA Investing LLC raised its stake in Thermo Fisher Scientific by 60,610.9% during the first quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after purchasing an additional 2,415,346 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock valued at $1,604,338,000 after purchasing an additional 1,433,444 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Thermo Fisher Scientific by 1,905.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock valued at $469,889,000 after buying an additional 858,193 shares during the period. Finally, Proficio Capital Partners LLC lifted its holdings in Thermo Fisher Scientific by 68,617.0% in the fourth quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company's stock valued at $396,810,000 after acquiring an additional 761,649 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Insiders Place Their Bets

In related news, SVP Michael A. Boxer sold 3,775 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now owns 10,816 shares of the company's stock, valued at $5,759,736.32. This trade represents a 25.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred 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 completion of the transaction, the executive vice president now 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 disclosure for this sale can be found here. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Down 1.4%

NYSE:TMO traded down $5.78 during trading hours on Thursday, hitting $397.88. The company's stock had a trading volume of 2,502,299 shares, compared to its average volume of 1,898,316. The stock has a market capitalization of $150.20 billion, a P/E ratio of 24.07, a price-to-earnings-growth 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 has a fifty day moving average of $424.35 and a 200-day moving average of $497.38. Thermo Fisher Scientific Inc. has a 52-week low of $390.50 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.05. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The business's quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $5.11 EPS. On average, equities 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 paid a $0.43 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a yield of 0.43%. Thermo Fisher Scientific's dividend payout ratio is presently 10.09%.

Analyst Ratings Changes

Several analysts recently issued reports on TMO shares. Robert W. Baird reduced their price objective on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus reduced their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. UBS Group dropped their target price on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Citigroup decreased their price target on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Finally, Evercore ISI cut their price objective on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $605.30.

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.