Fort Pitt Capital Group LLC Boosts Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Fort Pitt Capital Group LLC increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMOFree Report) by 2.8% during the first quarter, Holdings Channel reports. The firm owned 247,192 shares of the medical research company’s stock after acquiring an additional 6,758 shares during the period. Thermo Fisher Scientific makes up approximately 4.4% of Fort Pitt Capital Group LLC’s investment portfolio, making the stock its 2nd biggest position. Fort Pitt Capital Group LLC’s holdings in Thermo Fisher Scientific were worth $143,671,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sugarloaf Wealth Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 6.9% in the 4th quarter. Sugarloaf Wealth Management LLC now owns 294 shares of the medical research company’s stock worth $156,000 after purchasing an additional 19 shares in the last quarter. Rosenberg Matthew Hamilton grew its holdings in shares of Thermo Fisher Scientific by 3.7% during the fourth quarter. Rosenberg Matthew Hamilton now owns 526 shares of the medical research company’s stock worth $279,000 after purchasing an additional 19 shares in the last quarter. Tsfg LLC lifted its position in Thermo Fisher Scientific by 8.3% in the 4th quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock worth $132,000 after buying an additional 19 shares during the last quarter. Pacifica Partners Inc. lifted its position in Thermo Fisher Scientific by 16.5% in the 4th quarter. Pacifica Partners Inc. now owns 141 shares of the medical research company’s stock worth $69,000 after buying an additional 20 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its holdings in shares of Thermo Fisher Scientific by 1.9% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,069 shares of the medical research company’s stock valued at $591,000 after acquiring an additional 20 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the transaction, the senior vice president now owns 13,083 shares in the company, valued at $7,430,359.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $567.94, for a total value of $1,135,880.00. Following the transaction, the senior vice president now owns 13,083 shares in the company, valued at $7,430,359.02. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $70,238,340.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 22,000 shares of company stock valued at $12,532,780. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.3 %

TMO traded up $7.39 during trading on Friday, hitting $564.60. The company’s stock had a trading volume of 3,198,558 shares, compared to its average volume of 1,312,750. The firm’s 50 day moving average price is $574.09 and its 200-day moving average price is $561.32. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.33. The stock has a market cap of $215.52 billion, a PE ratio of 36.22, a PEG ratio of 2.60 and a beta of 0.79. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $603.82.

Thermo Fisher Scientific (NYSE:TMOGet Free Report) last announced its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. The firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. On average, analysts expect that Thermo Fisher Scientific Inc. will post 21.65 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 Monday, July 15th. Shareholders of record on Friday, June 14th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TMO shares. Jefferies Financial Group reaffirmed a “buy” rating and issued a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. HSBC increased their target price on Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Citigroup began coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a “neutral” rating and a $620.00 target price on the stock. The Goldman Sachs Group increased their price objective on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $607.94.

Get Our Latest Stock Report on Thermo Fisher Scientific

Thermo Fisher Scientific Company Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMOFree Report).

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.