Legacy Wealth Management LLC MS Buys 7,054 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Legacy Wealth Management LLC MS lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 189.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,783 shares of the medical research company's stock after acquiring an additional 7,054 shares during the quarter. Thermo Fisher Scientific makes up approximately 1.8% of Legacy Wealth Management LLC MS's holdings, making the stock its 9th biggest position. Legacy Wealth Management LLC MS's holdings in Thermo Fisher Scientific were worth $5,366,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of research firms have recently commented on TMO. Stifel Nicolaus lowered their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Argus lowered 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 research report on Tuesday, April 29th. Scotiabank lowered their price target 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. Robert W. Baird lowered their price target on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Morgan Stanley raised their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $607.43.

Thermo Fisher Scientific Trading Down 0.3%

TMO traded down $1.34 on Friday, reaching $402.41. 2,521,302 shares of the company traded hands, compared to its average volume of 1,879,798. Thermo Fisher Scientific Inc. has a one year low of $390.50 and a one year high of $627.88. The firm has a fifty day simple moving average of $430.85 and a two-hundred day simple moving average of $500.06. The company has a market cap of $151.91 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 2.99 and a beta of 0.82. 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 (NYSE:TMO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share 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 quarter in the previous year, the firm posted $5.11 earnings per share. The company's revenue was up .2% on a year-over-year basis. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a $0.43 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.43%. Thermo Fisher Scientific's payout ratio is currently 10.09%.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction on Monday, April 28th. The stock was 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 directly owns 23,167 shares of the company's stock, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the business'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 transaction, the chief executive officer now owns 115,174 shares of the company's stock, valued at $59,506,950.58. This 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. 0.33% of the stock is owned by corporate insiders.

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.