Rockland Trust Co. Increases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Rockland Trust Co. boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.3% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,786 shares of the medical research company's stock after acquiring an additional 727 shares during the quarter. Rockland Trust Co.'s holdings in Thermo Fisher Scientific were worth $16,314,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in TMO. Cypress Advisory Group LLC purchased a new position in Thermo Fisher Scientific during the 4th quarter worth $253,000. Intact Investment Management Inc. boosted its holdings in Thermo Fisher Scientific by 34.0% during the fourth quarter. Intact Investment Management Inc. now owns 2,600 shares of the medical research company's stock worth $1,353,000 after purchasing an additional 660 shares during the last quarter. Purkiss Capital Advisors LLC purchased a new stake in Thermo Fisher Scientific in the 4th quarter valued at about $1,121,000. W.H. Cornerstone Investments Inc. lifted its position in shares of Thermo Fisher Scientific by 25.1% during the 4th quarter. W.H. Cornerstone Investments Inc. now owns 2,870 shares of the medical research company's stock worth $1,493,000 after buying an additional 576 shares in the last quarter. Finally, Van ECK Associates Corp boosted its stake in shares of Thermo Fisher Scientific by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 418,365 shares of the medical research company's stock worth $217,646,000 after buying an additional 68,927 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Price Performance

NYSE TMO traded down $13.21 during trading on Friday, reaching $402.12. The company's stock had a trading volume of 2,384,678 shares, compared to its average volume of 1,929,713. The stock has a market capitalization of $151.80 billion, a PE ratio of 24.33, a P/E/G ratio of 2.99 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The firm has a fifty day moving average of $417.11 and a 200 day moving average of $493.15. Thermo Fisher Scientific Inc. has a one year low of $390.50 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.05. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Thermo Fisher Scientific's revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $5.11 earnings per share. Analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company 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. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.43%. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.09%.

Insider Buying and Selling

In other Thermo Fisher Scientific 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 value of $128,979.00. Following the completion of the sale, the executive vice president now directly owns 23,167 shares of the company's stock, valued at $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Stifel Nicolaus cut their price objective on 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. Robert W. Baird reduced their price target on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Evercore ISI lowered their price objective on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Finally, Barclays dropped their price objective on Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, Thermo Fisher Scientific has an average rating of "Moderate Buy" and an average target price of $605.30.

Thermo Fisher Scientific 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.