NorthCrest Asset Manangement LLC Boosts Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

NorthCrest Asset Manangement LLC grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.6% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 53,885 shares of the medical research company’s stock after acquiring an additional 1,354 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Thermo Fisher Scientific were worth $26,813,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in TMO. Bernard Wealth Management Corp. purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $25,000. FPC Investment Advisory Inc. bought a new position in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $28,000. Pillar Financial Advisors LLC bought a new position in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $29,000. Ameriflex Group Inc. bought a new position in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $30,000. Finally, Noble Wealth Management PBC bought a new position in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $35,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TMO. 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 report on Wednesday, April 23rd. Wells Fargo & Company reduced their price objective on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Evercore ISI reduced their price objective on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Royal Bank of Canada reduced their price objective on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Finally, Wall Street Zen raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $605.30.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president now directly owns 23,167 shares of the company’s stock, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $414.85 on Friday. The stock has a market cap of $156.60 billion, a price-to-earnings ratio of 25.10, a PEG ratio of 2.99 and a beta of 0.78. The firm’s 50-day moving average is $417.11 and its 200 day moving average is $493.15. Thermo Fisher Scientific Inc. has a 1 year low of $390.50 and a 1 year high of $627.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) 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.