Spirepoint Private Client LLC Boosts Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Spirepoint Private Client LLC boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,211 shares of the medical research company's stock after purchasing an additional 668 shares during the quarter. Spirepoint Private Client LLC's holdings in Thermo Fisher Scientific were worth $5,579,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TMO. Bernard Wealth Management Corp. acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $25,000. Pillar Financial Advisors LLC acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth $29,000. Ameriflex Group Inc. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter worth $30,000. Noble Wealth Management PBC purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at about $35,000. Finally, Cassady Schiller Wealth Management LLC increased its position in 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 last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Wall Street Analyst Weigh In

TMO has been the subject of several analyst reports. Royal Bank Of Canada dropped their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company lowered their price objective on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Argus cut their target price on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Stifel Nicolaus decreased their price target on 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. Finally, Scotiabank cut their price objective on Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating for the company in a research report on Friday, April 25th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and an average price target of $604.05.

Thermo Fisher Scientific Stock Up 1.5%

Shares of TMO stock traded up $6.08 during trading on Wednesday, reaching $410.45. The company's stock had a trading volume of 3,100,705 shares, compared to its average volume of 1,951,614. The company has a market capitalization of $154.94 billion, a price-to-earnings ratio of 24.07, a P/E/G ratio of 2.11 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. The stock's 50-day moving average price is $410.92 and its 200 day moving average price is $485.85.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $5.10 by $0.05. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The company's revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.11 earnings per share. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio is presently 10.09%.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction 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 completion of the transaction, the executive vice president now owns 23,167 shares in the company, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.