Pallas Capital Advisors LLC Buys 640 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Pallas Capital Advisors LLC boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,625 shares of the medical research company's stock after acquiring an additional 640 shares during the quarter. Pallas Capital Advisors LLC's holdings in Thermo Fisher Scientific were worth $6,282,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Bernard Wealth Management Corp. bought a new position in shares of Thermo Fisher Scientific in the fourth quarter worth about $25,000. FPC Investment Advisory Inc. purchased a new stake in Thermo Fisher Scientific during the 4th quarter worth approximately $28,000. Pillar Financial Advisors LLC purchased a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $29,000. Ameriflex Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $30,000. Finally, Noble Wealth Management PBC acquired a new stake in Thermo Fisher Scientific in the 4th quarter valued at $35,000. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Thermo Fisher Scientific 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 transaction, the executive vice president now directly owns 23,167 shares of the company's stock, valued at approximately $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 can be accessed through the SEC website. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

TMO stock traded up $6.67 during midday trading on Monday, hitting $408.57. The stock had a trading volume of 2,163,939 shares, compared to its average volume of 1,911,959. The stock has a 50-day simple moving average of $420.74 and a 200 day simple moving average of $495.68. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $154.23 billion, a price-to-earnings ratio of 24.72, a P/E/G ratio of 2.99 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 52 week low of $390.50 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) 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 business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. During the same quarter in the prior year, the company earned $5.11 EPS. The firm's quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.09%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Robert W. Baird dropped their price objective on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Scotiabank reduced their target price on Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating for the company in a report on Friday, April 25th. UBS Group dropped their price objective on Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Royal Bank of Canada reduced their target price on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and a consensus target price of $605.30.

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.