VELA Investment Management LLC Buys Shares of 2,359 Thermo Fisher Scientific Inc. (NYSE:TMO)

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

A number of 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 in the 4th quarter valued at about $253,000. Intact Investment Management Inc. boosted its position in Thermo Fisher Scientific by 34.0% in the 4th quarter. Intact Investment Management Inc. now owns 2,600 shares of the medical research company's stock valued at $1,353,000 after buying an additional 660 shares during the last quarter. GAMMA Investing LLC boosted its position in Thermo Fisher Scientific by 22.0% in the 1st quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock valued at $2,419,000 after buying an additional 877 shares during the last quarter. Deutsche Bank AG boosted its position in Thermo Fisher Scientific by 9.5% in the 4th quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock valued at $687,553,000 after buying an additional 114,277 shares during the last quarter. Finally, Hancock Whitney Corp boosted its position in Thermo Fisher Scientific by 0.6% in the 4th quarter. Hancock Whitney Corp now owns 5,386 shares of the medical research company's stock valued at $2,802,000 after buying an additional 30 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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 completion of the transaction, the executive vice president owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock traded down $11.71 on Monday, hitting $417.62. The company had a trading volume of 1,533,062 shares, compared to its average volume of 1,973,008. The business has a 50-day simple moving average of $409.18 and a 200-day simple moving average of $479.39. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. The company has a market cap of $157.65 billion, a PE ratio of 24.49, a PEG ratio of 2.28 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $5.10 by $0.05. The firm had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.23 billion. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. The firm's revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm posted $5.11 earnings per share. Research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS 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 paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio is 10.09%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports 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 target price on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating on the stock in a research note on Friday, April 25th. Argus cut their target price on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, Evercore ISI cut their target price on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average target price of $604.05.

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.