Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Reliant Investment Management LLC

Reliant Investment Management LLC lifted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,336 shares of the medical research company’s stock after buying an additional 90 shares during the quarter. Thermo Fisher Scientific makes up 3.2% of Reliant Investment Management LLC’s holdings, making the stock its 13th largest position. Reliant Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $6,138,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Zone Wealth Advisors LLC boosted its position in Thermo Fisher Scientific by 12.5% in the 1st quarter. Blue Zone Wealth Advisors LLC now owns 11,390 shares of the medical research company’s stock worth $5,668,000 after purchasing an additional 1,264 shares in the last quarter. Congress Asset Management Co. boosted its holdings in Thermo Fisher Scientific by 23.5% during the first quarter. Congress Asset Management Co. now owns 167,749 shares of the medical research company’s stock worth $83,472,000 after buying an additional 31,894 shares in the last quarter. Impact Capital Partners LLC grew its position in Thermo Fisher Scientific by 7.3% during the first quarter. Impact Capital Partners LLC now owns 1,024 shares of the medical research company’s stock valued at $510,000 after buying an additional 70 shares during the period. Chemistry Wealth Management LLC increased its holdings in Thermo Fisher Scientific by 77.3% in the first quarter. Chemistry Wealth Management LLC now owns 1,023 shares of the medical research company’s stock valued at $509,000 after buying an additional 446 shares in the last quarter. Finally, Pines Wealth Management LLC boosted its stake in shares of Thermo Fisher Scientific by 8.3% during the 1st quarter. Pines Wealth Management LLC now owns 2,613 shares of the medical research company’s stock worth $1,300,000 after acquiring an additional 200 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TMO has been the subject of several recent analyst reports. Royal Bank of Canada cut their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Robert W. Baird decreased their target price on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Citigroup cut 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. Argus dropped 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 report on Tuesday, April 29th. Finally, Wells Fargo & Company reduced their price target 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. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $605.30.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 3,775 shares of the company’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $532.52, for a total value of $2,010,263.00. Following the transaction, the senior vice president now owns 10,816 shares of the company’s stock, valued at $5,759,736.32. This represents a 25.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated 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 owns 23,167 shares in the company, valued at $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $401.99 on Friday. The stock has a 50 day moving average price of $420.74 and a 200 day moving average price of $495.93. The stock 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. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a one year low of $390.50 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, topping the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same quarter in the previous year, the firm earned $5.11 EPS. The company’s quarterly revenue was up .2% compared to the same quarter last year. Equities 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 declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.43%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific’s payout ratio is presently 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.