Park Place Capital Corp Has $1.03 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Park Place Capital Corp reduced its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 23.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,061 shares of the medical research company's stock after selling 615 shares during the quarter. Park Place Capital Corp's holdings in Thermo Fisher Scientific were worth $1,026,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TMO. Bernard Wealth Management Corp. acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $25,000. Pillar Financial Advisors LLC bought a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $29,000. Ameriflex Group Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $30,000. Noble Wealth Management PBC acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $35,000. Finally, Cassady Schiller Wealth Management LLC raised its position in shares of Thermo Fisher Scientific by 89.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company's stock worth $36,000 after purchasing an additional 33 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president now directly owns 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 0.33% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TMO shares. Wall Street Zen raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Argus lowered their price target on 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. Barclays cut their price objective on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday. Wells Fargo & Company cut their price target on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Finally, Citigroup cut their target price 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. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $604.05.

Thermo Fisher Scientific Stock Up 0.3%

TMO stock opened at $412.02 on Friday. The stock has a 50-day simple moving average of $410.11 and a two-hundred day simple moving average of $484.47. 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 Inc. has a twelve month low of $385.46 and a twelve month high of $627.88. The firm has a market capitalization of $155.53 billion, a PE ratio of 24.17, a PEG ratio of 2.17 and a beta of 0.78.

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

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.09%.

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.

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.