GAMMA Investing LLC Grows Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

GAMMA Investing LLC increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 22.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,862 shares of the medical research company's stock after buying an additional 877 shares during the period. GAMMA Investing LLC's holdings in Thermo Fisher Scientific were worth $2,419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TMO. Bernard Wealth Management Corp. bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $25,000. Pillar Financial Advisors LLC bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $29,000. Ameriflex Group Inc. bought a new position in Thermo Fisher Scientific in the 4th quarter valued at about $30,000. Noble Wealth Management PBC acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at about $35,000. Finally, Cassady Schiller Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 89.2% in 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. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the company's 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 transaction, the executive vice president directly owned 23,167 shares in the company, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock traded up $6.63 on Wednesday, reaching $428.10. The stock had a trading volume of 1,663,898 shares, compared to its average volume of 1,963,360. The business's 50 day moving average is $409.16 and its two-hundred day moving average is $481.67. The company has a market cap of $161.60 billion, a P/E ratio of 25.13, a price-to-earnings-growth ratio of 2.16 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released 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 15.19% and a return on equity of 17.15%. The firm had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.23 billion. During the same quarter in the prior year, the firm posted $5.11 earnings per share. The business's quarterly revenue was up .2% on a year-over-year basis. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a yield of 0.40%. Thermo Fisher Scientific's payout ratio is presently 10.09%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on TMO shares. Wells Fargo & Company lowered their price target 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. Scotiabank reduced their price objective on shares of 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. The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Argus decreased their price target on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Finally, Royal Bank Of Canada cut their price objective on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $604.05.

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.