Graybill Wealth Management LTD. Makes New $6.46 Million Investment in Thermo Fisher Scientific Inc. (NYSE:TMO)

Graybill Wealth Management LTD. acquired a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,982 shares of the medical research company's stock, valued at approximately $6,460,000. Thermo Fisher Scientific makes up 2.2% of Graybill Wealth Management LTD.'s holdings, making the stock its 17th biggest position.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sumitomo Life Insurance Co. grew its position in shares of Thermo Fisher Scientific by 23.2% in the 1st quarter. Sumitomo Life Insurance Co. now owns 23,930 shares of the medical research company's stock worth $11,908,000 after buying an additional 4,499 shares during the last quarter. Asahi Life Asset Management CO. LTD. purchased a new position in shares of Thermo Fisher Scientific in the 1st quarter worth approximately $339,000. Baer Investment Advisory LLC grew its position in shares of Thermo Fisher Scientific by 135.2% in the 1st quarter. Baer Investment Advisory LLC now owns 3,613 shares of the medical research company's stock worth $1,798,000 after buying an additional 2,077 shares during the last quarter. Apollon Wealth Management LLC grew its position in shares of Thermo Fisher Scientific by 46.5% in the 1st quarter. Apollon Wealth Management LLC now owns 18,896 shares of the medical research company's stock worth $9,403,000 after buying an additional 5,997 shares during the last quarter. Finally, Sigma Planning Corp grew its position in shares of Thermo Fisher Scientific by 4.4% in the 1st quarter. Sigma Planning Corp now owns 3,989 shares of the medical research company's stock worth $1,985,000 after buying an additional 169 shares during the last quarter. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock traded down $7.02 during trading hours on Tuesday, reaching $418.32. 2,090,484 shares of the company's stock were exchanged, compared to its average volume of 2,005,969. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The company has a market capitalization of $157.91 billion, a P/E ratio of 24.53, a price-to-earnings-growth ratio of 2.26 and a beta of 0.77. The business has a fifty day moving average of $409.67 and a two-hundred day moving average of $474.77. The company has a quick ratio of 1.38, a current ratio of 1.77 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. The firm had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.23 billion. During the same period last year, the business earned $5.11 earnings per share. Thermo Fisher Scientific's revenue was up .2% compared to the same quarter last year. As a group, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.41%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's payout ratio is currently 10.09%.

Analysts Set New Price Targets

TMO has been the topic of several research analyst reports. Wells Fargo & Company dropped their target price 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. Robert W. Baird dropped their target price on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Evercore ISI dropped their target price on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research report on Tuesday, July 8th. UBS Group downgraded shares of Thermo Fisher Scientific from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $500.00 to $460.00 in a research report on Tuesday, July 8th. Finally, Scotiabank raised shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective on the stock in a report on Friday. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and an average target price of $600.30.

Insider Transactions at Thermo Fisher Scientific

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 owned 23,167 shares of the company's stock, 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 through the SEC website. Insiders own 0.33% of the company's stock.

Thermo Fisher Scientific 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.