Eagle Ridge Investment Management Has $726,000 Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Eagle Ridge Investment Management raised its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 39.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,249 shares of the medical research company’s stock after acquiring an additional 352 shares during the quarter. Eagle Ridge Investment Management’s holdings in Thermo Fisher Scientific were worth $726,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. MV Capital Management Inc. grew its position in shares of Thermo Fisher Scientific by 13.1% during the 1st quarter. MV Capital Management Inc. now owns 199 shares of the medical research company’s stock worth $116,000 after buying an additional 23 shares during the period. Dash Acquisitions Inc. grew its holdings in Thermo Fisher Scientific by 3.9% in the first quarter. Dash Acquisitions Inc. now owns 26,851 shares of the medical research company’s stock worth $14,694,000 after purchasing an additional 1,015 shares during the period. Capital Advisors Ltd. LLC raised its holdings in shares of Thermo Fisher Scientific by 2.4% during the first quarter. Capital Advisors Ltd. LLC now owns 1,212 shares of the medical research company’s stock valued at $704,000 after purchasing an additional 28 shares during the period. Synergy Asset Management LLC grew its stake in shares of Thermo Fisher Scientific by 67.0% in the 1st quarter. Synergy Asset Management LLC now owns 5,198 shares of the medical research company’s stock valued at $3,021,000 after buying an additional 2,085 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its position in Thermo Fisher Scientific by 40.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 125,565 shares of the medical research company’s stock valued at $72,980,000 after buying an additional 36,169 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on TMO. HSBC raised their price objective on Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research note on Tuesday, April 30th. Evercore ISI decreased their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a research note on Tuesday. The Goldman Sachs Group lifted their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Barclays dropped their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a research report on Friday. Finally, JPMorgan Chase & Co. increased their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” 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 data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $606.47.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock traded down $7.79 on Tuesday, reaching $533.93. 1,315,331 shares of the company traded hands, compared to its average volume of 1,549,184. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $603.82. 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 company has a 50 day moving average of $574.71 and a 200 day moving average of $563.50. The firm has a market capitalization of $203.81 billion, a PE ratio of 34.32, a PEG ratio of 2.58 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its 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. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The firm had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. Equities analysts forecast 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 disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 14th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, June 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Insider Activity at Thermo Fisher Scientific

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

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.