VELA Investment Management LLC Invests $1.17 Million in Thermo Fisher Scientific Inc. (NYSE:TMO)

VELA Investment Management LLC bought a new position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,359 shares of the medical research company's stock, valued at approximately $1,174,000.

A number of other hedge funds have also recently modified their holdings of the stock. One Charles Private Wealth Services LLC boosted its position in Thermo Fisher Scientific by 4.2% during the fourth quarter. One Charles Private Wealth Services LLC now owns 499 shares of the medical research company's stock worth $260,000 after purchasing an additional 20 shares in the last quarter. Revolve Wealth Partners LLC boosted its position in Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock worth $255,000 after purchasing an additional 20 shares in the last quarter. Holderness Investments Co. boosted its position in Thermo Fisher Scientific by 1.7% during the fourth quarter. Holderness Investments Co. now owns 1,277 shares of the medical research company's stock worth $664,000 after purchasing an additional 21 shares in the last quarter. Port Capital LLC boosted its position in Thermo Fisher Scientific by 1.6% during the fourth quarter. Port Capital LLC now owns 1,385 shares of the medical research company's stock worth $721,000 after purchasing an additional 22 shares in the last quarter. Finally, Clark Capital Management Group Inc. boosted its position in Thermo Fisher Scientific by 0.5% during the fourth quarter. Clark Capital Management Group Inc. now owns 4,445 shares of the medical research company's stock worth $2,312,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction on 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 transaction, the executive vice president directly owned 23,167 shares in the company, valued at $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on TMO. Stifel Nicolaus decreased their target price 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. Wells Fargo & Company decreased their target price on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Royal Bank Of Canada decreased their target price 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. Evercore ISI decreased their target price on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research report on Tuesday. Finally, Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $603.05.

Thermo Fisher Scientific Trading Up 1.9%

TMO stock traded up $7.95 during midday trading on Tuesday, hitting $426.65. 2,620,440 shares of the company's stock were exchanged, compared to its average volume of 1,982,484. The business has a 50-day simple moving average of $409.11 and a two-hundred day simple moving average of $478.29. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $161.06 billion, a PE ratio of 25.02, a P/E/G ratio of 2.23 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.

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, topping the consensus estimate of $5.10 by $0.05. The company had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The firm's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $5.11 earnings per share. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid 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 dividend payout ratio (DPR) is 10.09%.

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.