Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 6.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,822 shares of the medical research company's stock after purchasing an additional 1,158 shares during the period. Salem Investment Counselors Inc.'s holdings in Thermo Fisher Scientific were worth $9,368,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TMO. Norges Bank bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $3,149,754,000. GAMMA Investing LLC raised its position in shares of Thermo Fisher Scientific by 60,610.9% during the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock valued at $1,203,859,000 after purchasing an additional 2,415,346 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Thermo Fisher Scientific by 86.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock valued at $1,604,338,000 after purchasing an additional 1,433,444 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in Thermo Fisher Scientific by 1,905.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after purchasing an additional 858,193 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its stake in Thermo Fisher Scientific by 68,617.0% in the 4th quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company's stock worth $396,810,000 after purchasing an additional 761,649 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Down 3.2%

Shares of TMO traded down $13.21 during mid-day trading on Friday, hitting $402.12. The company's stock had a trading volume of 2,384,678 shares, compared to its average volume of 1,931,788. The company's 50-day moving average is $416.80 and its 200-day moving average is $492.19. Thermo Fisher Scientific Inc. has a 52-week low of $390.50 and a 52-week high of $627.88. The firm has a market capitalization of $151.80 billion, a price-to-earnings ratio of 24.33, 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 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 14.78% and a return on equity of 17.51%. The firm had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.23 billion. During the same quarter in the prior year, the company earned $5.11 EPS. The company's revenue was up .2% compared to the same quarter last year. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 dividend yield of 0.43%. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.09%.

Insider Buying and Selling

In other Thermo Fisher Scientific 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 transaction of $128,979.00. Following the transaction, the executive vice president now owns 23,167 shares in the company, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have commented on TMO shares. Stifel Nicolaus decreased their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group set a $610.00 price target on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Scotiabank reduced their target price on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating on the stock in a report on Friday, April 25th. Citigroup reduced their target price on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Finally, Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and an average price target of $605.30.

Thermo Fisher Scientific Company 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.