S&CO Inc. Purchases 2,911 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• S&CO Inc. increased its holdings in Thermo Fisher Scientific by 7.5%, acquiring an additional 2,911 shares, bringing its total to 41,872 shares worth approximately $20.8 million.
• Thermo Fisher Scientific's stock is favored by analysts, holding a consensus rating of "Moderate Buy", with an average price target of $593.00.
• The company announced a quarterly dividend of $0.43 per share, reflecting an annualized payout of $1.72, with a dividend yield of 0.35%.

S&CO Inc. grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 7.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,872 shares of the medical research company's stock after purchasing an additional 2,911 shares during the period. Thermo Fisher Scientific comprises approximately 1.4% of S&CO Inc.'s investment portfolio, making the stock its 18th largest position. S&CO Inc.'s holdings in Thermo Fisher Scientific were worth $20,835,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Capital World Investors boosted its stake in shares of Thermo Fisher Scientific by 1.1% in the 4th quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock valued at $4,905,812,000 after purchasing an additional 104,343 shares in the last quarter. Geode Capital Management LLC boosted its position in Thermo Fisher Scientific by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company's stock worth $4,075,540,000 after buying an additional 197,442 shares during the period. Northern Trust Corp boosted its position in Thermo Fisher Scientific by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock worth $2,034,107,000 after buying an additional 455,004 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in 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 worth $1,604,338,000 after buying an additional 1,433,444 shares during the period. Finally, Pictet Asset Management Holding SA boosted its position in Thermo Fisher Scientific by 7.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 2,879,274 shares of the medical research company's stock worth $1,432,816,000 after buying an additional 193,378 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TMO has been the topic of several recent research reports. Wells Fargo & Company cut their target price on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Robert W. Baird lifted their target price on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Scotiabank upgraded shares of 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 research report on Friday, July 11th. Hsbc Global Res downgraded shares of Thermo Fisher Scientific from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Finally, Stifel Nicolaus dropped 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 report on Thursday, April 24th. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and a consensus target price of $593.00.

Thermo Fisher Scientific Trading Down 1.1%

Shares of NYSE:TMO traded down $4.94 during mid-day trading on Friday, hitting $462.74. The company had a trading volume of 2,748,891 shares, compared to its average volume of 2,528,669. The firm has a fifty day moving average price of $419.50 and a 200 day moving average price of $468.31. The company has a market capitalization of $174.68 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 2.55 and a beta of 0.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, beating the consensus estimate of $5.22 by $0.14. The company had revenue of $10.86 billion during the quarter, compared to analyst estimates of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. Thermo Fisher Scientific's revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.37 EPS. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's payout ratio is 9.95%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the completion of the sale, the executive vice president owned 22,367 shares in the company, valued at approximately $10,735,712.66. The trade was a 1.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.33% of the company's stock.

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.