Oppenheimer & Co. Inc. Purchases 814 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Oppenheimer & Co. Inc. boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 30,272 shares of the medical research company's stock after purchasing an additional 814 shares during the period. Oppenheimer & Co. Inc.'s holdings in Thermo Fisher Scientific were worth $15,063,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TMO. Bernard Wealth Management Corp. purchased a new stake in Thermo Fisher Scientific during the fourth quarter valued at approximately $25,000. FPC Investment Advisory Inc. bought a new stake in Thermo Fisher Scientific during the fourth quarter valued at about $28,000. Pillar Financial Advisors LLC bought a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $29,000. Ameriflex Group Inc. purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $30,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $35,000. 89.23% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on TMO shares. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Barclays dropped their price target on Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Scotiabank reduced their price objective on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating on the stock in a research report on Friday, April 25th. Wells Fargo & Company dropped their target price on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Finally, Evercore ISI reduced their price target on shares of 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 investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $605.30.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the company'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 transaction, the executive vice president now directly owns 23,167 shares in the company, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Trading Up 1.2%

Shares of NYSE TMO opened at $397.31 on Monday. The stock has a market capitalization of $149.98 billion, a P/E ratio of 23.30, a PEG ratio of 2.10 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88. The business's 50 day moving average is $412.62 and its two-hundred day moving average is $487.32. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38.

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 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same quarter 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, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 dividend yield of 0.43%. Thermo Fisher Scientific's payout ratio is 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.

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.