Perpetual Ltd Buys 47,976 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Perpetual Ltd raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 20.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 277,938 shares of the medical research company's stock after buying an additional 47,976 shares during the period. Thermo Fisher Scientific comprises approximately 1.7% of Perpetual Ltd's holdings, making the stock its 16th largest position. Perpetual Ltd owned approximately 0.07% of Thermo Fisher Scientific worth $138,302,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cypress Advisory Group LLC purchased a new position in Thermo Fisher Scientific in the fourth quarter worth about $253,000. Intact Investment Management Inc. grew its position in Thermo Fisher Scientific by 34.0% during the fourth quarter. Intact Investment Management Inc. now owns 2,600 shares of the medical research company's stock valued at $1,353,000 after buying an additional 660 shares during the period. Purkiss Capital Advisors LLC purchased a new stake in Thermo Fisher Scientific during the fourth quarter valued at approximately $1,121,000. LaFleur & Godfrey LLC boosted its stake in shares of Thermo Fisher Scientific by 9.1% during the 4th quarter. LaFleur & Godfrey LLC now owns 29,767 shares of the medical research company's stock worth $15,486,000 after acquiring an additional 2,488 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Thermo Fisher Scientific by 9.5% during the 4th quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock valued at $687,553,000 after acquiring an additional 114,277 shares during the period. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $412.02 on Friday. The stock has a market capitalization of $155.53 billion, a PE ratio of 24.17, a P/E/G ratio of 2.17 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 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 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 announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share 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 company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.23 billion. During the same quarter in the previous year, the business posted $5.11 earnings per share. Thermo Fisher Scientific's quarterly revenue was up .2% on a year-over-year basis. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the firm'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 completion of the sale, the executive vice president now owns 23,167 shares in the company, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.33% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on TMO shares. Barclays lowered their target price on Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Evercore ISI cut their price objective on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company decreased 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 note on Thursday, April 24th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Finally, UBS Group decreased their price objective on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $604.05.

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.

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