Tounjian Advisory Partners LLC Invests $3.64 Million in Thermo Fisher Scientific Inc. (NYSE:TMO)

Tounjian Advisory Partners LLC bought a new position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,304 shares of the medical research company's stock, valued at approximately $3,636,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC grew its stake in shares of Thermo Fisher Scientific by 5.3% in the first quarter. Pallas Capital Advisors LLC now owns 12,625 shares of the medical research company's stock worth $6,282,000 after purchasing an additional 640 shares during the last quarter. Cetera Trust Company N.A grew its position in shares of Thermo Fisher Scientific by 3.3% in the 1st quarter. Cetera Trust Company N.A now owns 4,646 shares of the medical research company's stock worth $2,312,000 after buying an additional 150 shares during the last quarter. Farther Finance Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 27.9% during the first quarter. Farther Finance Advisors LLC now owns 5,048 shares of the medical research company's stock valued at $2,438,000 after buying an additional 1,100 shares during the period. Daymark Wealth Partners LLC lifted its stake in Thermo Fisher Scientific by 31.5% in the first quarter. Daymark Wealth Partners LLC now owns 776 shares of the medical research company's stock worth $386,000 after acquiring an additional 186 shares during the period. Finally, Moss Adams Wealth Advisors LLC increased its position in Thermo Fisher Scientific by 47.3% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 1,327 shares of the medical research company's stock valued at $661,000 after purchasing an additional 426 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TMO. Royal Bank of Canada cut their target price on shares of 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. Scotiabank cut their price objective on Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating on the stock in a research report on Friday, April 25th. Citigroup decreased their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Barclays reduced their price target 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. Finally, Argus lowered their price objective 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. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $605.30.

Thermo Fisher Scientific Stock Up 1.7%

TMO stock traded up $6.67 during midday trading on Monday, hitting $408.57. The company's stock had a trading volume of 2,163,939 shares, compared to its average volume of 1,911,959. The company has a market cap of $154.23 billion, a PE ratio of 24.72, a P/E/G ratio of 2.99 and a beta of 0.78. The firm's 50-day moving average is $420.74 and its 200-day moving average is $495.68. Thermo Fisher Scientific Inc. has a 12 month low of $390.50 and a 12 month high of $627.88. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted 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. 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 analysts' expectations of $10.23 billion. During the same quarter in the prior year, the business earned $5.11 EPS. The business's revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued 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 payout ratio is currently 10.09%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the completion of the sale, the executive vice president now owns 23,167 shares of the company's stock, valued at approximately $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 accessible through the SEC website. 0.33% of the stock is owned by company insiders.

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.