Wedge Capital Management L L P NC Increases Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Wedge Capital Management L L P NC grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 957.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,466 shares of the medical research company's stock after purchasing an additional 6,760 shares during the period. Wedge Capital Management L L P NC's holdings in Thermo Fisher Scientific were worth $3,715,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Kennebec Savings Bank grew its stake in shares of Thermo Fisher Scientific by 9.9% in the first quarter. Kennebec Savings Bank now owns 1,357 shares of the medical research company's stock worth $675,000 after acquiring an additional 122 shares in the last quarter. KMG Fiduciary Partners LLC increased its position in shares of Thermo Fisher Scientific by 11.1% in the 1st quarter. KMG Fiduciary Partners LLC now owns 5,038 shares of the medical research company's stock valued at $2,507,000 after purchasing an additional 503 shares during the last quarter. ARS Wealth Advisors Group LLC lifted its position in shares of Thermo Fisher Scientific by 1.6% during the 1st quarter. ARS Wealth Advisors Group LLC now owns 1,563 shares of the medical research company's stock worth $778,000 after purchasing an additional 25 shares during the last quarter. Miracle Mile Advisors LLC grew its stake in shares of Thermo Fisher Scientific by 1.7% during the first quarter. Miracle Mile Advisors LLC now owns 5,603 shares of the medical research company's stock worth $2,788,000 after purchasing an additional 93 shares in the last quarter. Finally, RDA Financial Network lifted its holdings in Thermo Fisher Scientific by 0.7% during the 1st quarter. RDA Financial Network now owns 4,331 shares of the medical research company's stock worth $2,155,000 after buying an additional 28 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TMO has been the topic of a number of recent analyst reports. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating on the stock in a 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. Argus decreased their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Wells Fargo & Company reduced their target price on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Finally, Evercore ISI dropped their price target on 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 given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $605.30.

Thermo Fisher Scientific Stock Performance

TMO traded up $2.54 during trading on Wednesday, reaching $417.08. The company's stock had a trading volume of 676,193 shares, compared to its average volume of 1,911,612. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The company's fifty day moving average price is $418.02 and its 200-day moving average price is $494.38. Thermo Fisher Scientific Inc. has a 52-week low of $390.50 and a 52-week high of $627.88. The company has a market capitalization of $157.44 billion, a price-to-earnings ratio of 25.21, a price-to-earnings-growth ratio of 2.99 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, beating analysts' consensus estimates of $5.10 by $0.05. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. During the same period in the previous year, the business earned $5.11 earnings per share. The company's revenue for the quarter was up .2% compared to the same quarter last year. On average, equities 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 business 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 annualized dividend and a dividend yield of 0.41%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.09%.

Insiders Place Their Bets

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 stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the sale, the executive vice president now directly owns 23,167 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this link. 0.33% of the stock is currently 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.