Private Advisor Group LLC raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,750 shares of the medical research company's stock after buying an additional 1,087 shares during the period. Private Advisor Group LLC's holdings in Thermo Fisher Scientific were worth $11,320,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Thermo Fisher Scientific by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company's stock valued at $17,297,426,000 after buying an additional 196,864 shares in the last quarter. Capital World Investors increased its holdings in Thermo Fisher Scientific by 1.1% in the fourth quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock valued at $4,905,812,000 after buying an additional 104,343 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Thermo Fisher Scientific by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company's stock valued at $4,075,540,000 after purchasing an additional 197,442 shares during the last quarter. Norges Bank acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $3,149,754,000. Finally, Northern Trust Corp grew its position in shares of Thermo Fisher Scientific by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock valued at $2,034,107,000 after purchasing an additional 455,004 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
TMO has been the topic of several research reports. Scotiabank upgraded shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target on the stock in a research report on Friday, July 11th. UBS Group lowered shares of Thermo Fisher Scientific from a "buy" rating to a "neutral" rating and lowered their price target for the company from $500.00 to $460.00 in a research report on Tuesday, July 8th. 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. Robert W. Baird lowered their price target on shares of Thermo Fisher Scientific from $573.00 to $553.00 and set an "outperform" rating on the stock in a research report on Friday. Finally, The Goldman Sachs Group set a $610.00 price target on shares of Thermo Fisher Scientific and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and an average target price of $599.30.
Get Our Latest Research Report on Thermo Fisher Scientific
Insider Buying and Selling at Thermo Fisher Scientific
In other news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction that occurred on 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 directly owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.33% of the company's stock.
Thermo Fisher Scientific Stock Performance
Thermo Fisher Scientific stock traded down $9.69 during midday trading on Friday, reaching $415.29. 2,647,234 shares of the stock traded hands, compared to its average volume of 2,023,037. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. The firm has a fifty day moving average price of $410.38 and a two-hundred day moving average price of $472.67. The firm has a market cap of $156.77 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 2.21 and a beta of 0.77. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $627.88.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its 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. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. Thermo Fisher Scientific's revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $5.11 EPS. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.
Thermo Fisher Scientific Announces Dividend
The business also recently declared 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio is currently 10.09%.
About Thermo Fisher Scientific
(
Free Report)
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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