Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 17.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,036 shares of the medical research company’s stock after acquiring an additional 155 shares during the period. Hanson & Doremus Investment Management’s holdings in Thermo Fisher Scientific were worth $573,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Diversify Wealth Management LLC acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at $1,897,000. Seven Mile Advisory raised its holdings in Thermo Fisher Scientific by 7.0% in the 2nd quarter. Seven Mile Advisory now owns 533 shares of the medical research company’s stock valued at $294,000 after acquiring an additional 35 shares during the last quarter. Lyell Wealth Management LP boosted its position in Thermo Fisher Scientific by 3.0% during the 2nd quarter. Lyell Wealth Management LP now owns 29,113 shares of the medical research company’s stock worth $16,100,000 after purchasing an additional 839 shares during the period. Envestnet Asset Management Inc. boosted its position in Thermo Fisher Scientific by 3.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 898,516 shares of the medical research company’s stock worth $496,879,000 after purchasing an additional 25,862 shares during the period. Finally, Oppenheimer Asset Management Inc. boosted its position in Thermo Fisher Scientific by 27.6% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 82,916 shares of the medical research company’s stock worth $45,853,000 after purchasing an additional 17,913 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of research reports. Stifel Nicolaus upped their price target on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Wells Fargo & Company started coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price objective for the company. Royal Bank of Canada upped their price objective on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Finally, TD Cowen upped their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $630.41.

Insider Activity

In other news, VP Lisa P. Britt sold 3,624 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $613.02, for a total value of $2,221,584.48. Following the completion of the transaction, the vice president now directly owns 13,699 shares in the company, valued at $8,397,760.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Lisa P. Britt sold 3,624 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $613.02, for a total value of $2,221,584.48. Following the completion of the transaction, the vice president now directly owns 13,699 shares in the company, valued at $8,397,760.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now owns 17,887 shares of the company’s stock, valued at $10,747,403.95. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock worth $14,094,292 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $611.17 on Friday. The firm’s 50 day moving average is $592.10 and its two-hundred day moving average is $580.16. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $627.88. The firm has a market capitalization of $233.47 billion, a P/E ratio of 39.20, a PEG ratio of 2.86 and a beta of 0.78. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, beating the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same quarter last year, the business earned $5.15 earnings per share. Thermo Fisher Scientific’s revenue was down 1.4% compared to the same quarter last year. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.26%. The ex-dividend date is Friday, September 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

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.