Davis Rea LTD. Buys 8,452 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Davis Rea LTD. grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 28.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 37,712 shares of the medical research company's stock after purchasing an additional 8,452 shares during the period. Thermo Fisher Scientific makes up 5.0% of Davis Rea LTD.'s investment portfolio, making the stock its 6th biggest holding. Davis Rea LTD.'s holdings in Thermo Fisher Scientific were worth $18,778,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bernard Wealth Management Corp. purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $25,000. Ameriflex Group Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $30,000. IMA Advisory Services Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at approximately $35,000. Navigoe LLC purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at approximately $37,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Price Performance

NYSE TMO traded up $3.58 on Friday, hitting $478.61. The company had a trading volume of 4,191,526 shares, compared to its average volume of 3,108,119. The company has a market capitalization of $180.67 billion, a PE ratio of 27.68, a PEG ratio of 2.47 and a beta of 0.77. The company's fifty day moving average price is $413.76 and its 200-day moving average price is $470.22. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.38. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $627.88.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.36%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's payout ratio is 10.09%.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm'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 value of $128,979.00. Following the sale, the executive vice president owned 23,167 shares of the company's stock, valued at $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TMO shares. Wells Fargo & Company lowered 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 note on Thursday. Scotiabank upgraded shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective on the stock in a research report on Friday, July 11th. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Royal Bank Of Canada lowered their price objective on shares of 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. Finally, Wall Street Zen raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $593.00.

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.