Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 40.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,054 shares of the medical research company's stock after buying an additional 1,459 shares during the quarter. Palumbo Wealth Management LLC's holdings in Thermo Fisher Scientific were worth $2,515,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bernard Wealth Management Corp. acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $25,000. FPC Investment Advisory Inc. acquired a new position in Thermo Fisher Scientific during the fourth quarter worth $28,000. Pillar Financial Advisors LLC acquired a new position in Thermo Fisher Scientific during the fourth quarter worth $29,000. Ameriflex Group Inc. acquired a new position in Thermo Fisher Scientific during the fourth quarter worth $30,000. Finally, Noble Wealth Management PBC acquired a new position in Thermo Fisher Scientific during the fourth quarter worth $35,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction dated 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 sale, the executive vice president now owns 23,167 shares of the company's stock, valued at $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Trading Up 0.6%

TMO stock traded up $2.38 during trading on Monday, reaching $400.26. 2,485,958 shares of the stock traded hands, compared to its average volume of 1,944,901. The business's 50 day moving average price is $411.66 and its 200-day moving average price is $486.42. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. The firm has a market capitalization of $151.09 billion, a PE ratio of 23.48, a P/E/G ratio of 2.10 and a beta of 0.78.

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 (EPS) for the quarter, beating analysts' consensus estimates 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 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 business earned $5.11 earnings per share. The firm's quarterly revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.09%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Citigroup cut their price target on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Scotiabank cut their price target on 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. Stifel Nicolaus cut their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Barclays cut their price target on 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. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $605.30.

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.