Platform Technology Partners Acquires 2,041 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Platform Technology Partners raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 453.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,491 shares of the medical research company's stock after buying an additional 2,041 shares during the period. Platform Technology Partners' holdings in Thermo Fisher Scientific were worth $1,240,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of TMO. Bernard Wealth Management Corp. bought a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. bought a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC increased its stake 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. VSM Wealth Advisory LLC bought a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $36,000. Finally, Navigoe LLC bought a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $37,000. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Up 1.0%

TMO stock traded up $4.29 during mid-day trading on Friday, reaching $435.02. 2,511,384 shares of the company traded hands, compared to its average volume of 1,999,630. The stock has a market cap of $164.22 billion, a price-to-earnings ratio of 25.51, a P/E/G ratio of 2.31 and a beta of 0.77. 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 fifty-two week low of $385.46 and a fifty-two week high of $627.88. The firm's 50 day moving average price is $409.39 and its 200 day moving average price is $475.87.

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 (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 business 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 EPS. The company's quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.43 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.40%. Thermo Fisher Scientific's payout ratio is presently 10.09%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TMO. Royal Bank Of Canada lowered their target price on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Barclays reduced their price target 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, June 24th. Wells Fargo & Company reduced their price target on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Evercore ISI reduced their target price on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Finally, Scotiabank raised Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 target price on the stock in a report on Friday. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $600.30.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction that occurred 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 transaction, the executive vice president owned 23,167 shares in the company, valued at $9,960,188.31. The trade was a 1.28% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is owned by insiders.

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.