Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by Bingham Private Wealth LLC

Bingham Private Wealth LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 59.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,380 shares of the medical research company’s stock after acquiring an additional 514 shares during the quarter. Bingham Private Wealth LLC’s holdings in Thermo Fisher Scientific were worth $687,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of Thermo Fisher Scientific by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company’s stock valued at $17,297,426,000 after buying an additional 196,864 shares in the last quarter. Capital World Investors grew its position in Thermo Fisher Scientific by 1.1% in the fourth quarter. Capital World Investors now owns 9,430,120 shares of the medical research company’s stock worth $4,905,812,000 after acquiring an additional 104,343 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Thermo Fisher Scientific by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company’s stock worth $4,075,540,000 after acquiring an additional 197,442 shares in the last quarter. Norges Bank bought a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $3,149,754,000. Finally, Northern Trust Corp boosted its stake in Thermo Fisher Scientific by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company’s stock valued at $2,034,107,000 after purchasing an additional 455,004 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of the business’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 transaction of $128,979.00. Following the completion of the sale, the executive vice president directly owned 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have issued reports on TMO. Stifel Nicolaus cut their price objective on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Argus dropped their price target 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. Barclays dropped their target price on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 24th. Wells Fargo & Company dropped their target price on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating for the company in a research report on Thursday, April 24th. Finally, Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $599.30.

Thermo Fisher Scientific Stock Down 2.3%

Shares of NYSE:TMO opened at $415.29 on Friday. The company has a market capitalization of $156.77 billion, a PE ratio of 24.36, a price-to-earnings-growth ratio of 2.21 and a beta of 0.77. The business has a fifty day moving average price of $410.38 and a two-hundred day moving average price of $472.67. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. 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) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. During the same period last year, the business earned $5.11 earnings per share. Thermo Fisher Scientific’s revenue was up .2% compared to the same quarter last year. Analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific’s dividend payout ratio is 10.09%.

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.