QRG Capital Management Inc. Purchases 6,670 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

QRG Capital Management Inc. raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 17.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 44,807 shares of the medical research company's stock after purchasing an additional 6,670 shares during the period. QRG Capital Management Inc.'s holdings in Thermo Fisher Scientific were worth $22,296,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of brokerages have commented on TMO. Wall Street Zen raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Barclays decreased their target price on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Argus cut their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Wells Fargo & Company lowered their price objective on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group set a $610.00 price target on Thermo Fisher Scientific and gave the company a "buy" rating in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $605.30.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 directly 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Up 0.6%

TMO traded up $2.39 during midday trading on Monday, reaching $405.15. The company's stock had a trading volume of 1,972,887 shares, compared to its average volume of 1,931,951. The stock's 50-day moving average is $416.80 and its 200-day moving average is $491.98. Thermo Fisher Scientific Inc. has a 1 year low of $390.50 and a 1 year high of $627.88. The firm has a market capitalization of $152.94 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 2.99 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data 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 17.51% and a net margin of 14.78%. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations 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, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.42%. Thermo Fisher Scientific's dividend payout ratio is presently 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.