Gilman Hill Asset Management LLC Boosts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Gilman Hill Asset Management LLC grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,803 shares of the medical research company’s stock after buying an additional 48 shares during the period. Gilman Hill Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $3,385,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in TMO. Norges Bank purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at $3,149,754,000. GAMMA Investing LLC raised its stake in Thermo Fisher Scientific by 60,610.9% during the first quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company’s stock worth $1,203,859,000 after purchasing an additional 2,415,346 shares during the period. T. Rowe Price Investment Management Inc. raised its stake 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 worth $1,604,338,000 after purchasing an additional 1,433,444 shares during the period. Kovitz Investment Group Partners LLC raised its stake in Thermo Fisher Scientific by 1,905.4% during 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 period. Finally, Proficio Capital Partners LLC raised its stake in shares of Thermo Fisher Scientific by 68,617.0% in the 4th quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company’s stock valued at $396,810,000 after acquiring an additional 761,649 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity

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 transaction of $128,979.00. Following the sale, the executive vice president now owns 23,167 shares in the company, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the sale, the senior vice president now owns 10,816 shares in the company, valued at approximately $5,759,736.32. This trade represents a 25.87% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on TMO. Stifel Nicolaus cut their target price on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Barclays cut their target price on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 10th. Citigroup lowered their price target on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Wall Street Zen upgraded shares of 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 company’s stock. According to data from MarketBeat.com, 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%

Shares of TMO opened at $403.68 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average is $424.35 and its two-hundred day moving average is $497.38. Thermo Fisher Scientific Inc. has a twelve month low of $390.50 and a twelve month high of $627.88. The firm has a market capitalization of $152.39 billion, a P/E ratio of 24.42, a PEG ratio of 2.99 and a beta of 0.82.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.05. The company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $5.11 earnings per share. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared 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 is presently 10.09%.

Thermo Fisher Scientific 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.