Wesbanco Bank Inc. Raises Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Wesbanco Bank Inc. boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 44,286 shares of the medical research company's stock after buying an additional 1,313 shares during the period. Wesbanco Bank Inc.'s holdings in Thermo Fisher Scientific were worth $22,037,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at about $3,149,754,000. GAMMA Investing LLC grew its position in shares of Thermo Fisher Scientific by 60,610.9% in the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after buying an additional 2,415,346 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in Thermo Fisher Scientific by 86.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock valued at $1,604,338,000 after acquiring an additional 1,433,444 shares during the last quarter. Kovitz Investment Group Partners LLC grew its holdings in Thermo Fisher Scientific by 1,905.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after purchasing an additional 858,193 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its position in shares of Thermo Fisher Scientific by 68,617.0% during the fourth quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company's stock worth $396,810,000 after purchasing an additional 761,649 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

TMO has been the topic of several research analyst reports. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Citigroup cut their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. UBS Group dropped their target price on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Scotiabank decreased their price target on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating for the company in a report on Friday, April 25th. Finally, Wells Fargo & Company dropped their price objective on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a report 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. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and a consensus price target of $605.30.

Thermo Fisher Scientific Trading Up 0.9%

Thermo Fisher Scientific stock opened at $401.99 on Monday. The firm has a market cap of $151.75 billion, a PE ratio of 24.32, a P/E/G ratio of 2.99 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 12 month low of $390.50 and a 12 month high of $627.88. The stock's 50 day simple moving average is $420.74 and its two-hundred day simple moving average is $495.68. 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 announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. During the same period in the prior year, the firm posted $5.11 earnings per share. The firm's quarterly revenue was up .2% compared to the same quarter last year. Analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a $0.43 dividend. 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 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.

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