Connors Investor Services Inc. Invests $6.83 Million in Thermo Fisher Scientific Inc. (NYSE:TMO)

Connors Investor Services Inc. acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 11,755 shares of the medical research company’s stock, valued at approximately $6,832,000.

A number of other hedge funds have also recently bought and sold shares of the company. Rosenberg Matthew Hamilton lifted its position 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 acquiring an additional 19 shares in the last quarter. Tsfg LLC boosted its position in shares of Thermo Fisher Scientific by 8.3% in the fourth quarter. Tsfg LLC now owns 249 shares of the medical research company’s stock valued at $132,000 after acquiring an additional 19 shares during the period. Foundations Investment Advisors LLC grew its stake in 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. Paragon Private Wealth Management LLC lifted its stake in Thermo Fisher Scientific by 4.3% in the 4th quarter. Paragon Private Wealth Management LLC now owns 480 shares of the medical research company’s stock worth $255,000 after purchasing an additional 20 shares in the last quarter. Finally, Physician Wealth Advisors Inc. boosted its holdings in Thermo Fisher Scientific by 3.4% in the 1st quarter. Physician Wealth Advisors Inc. now owns 607 shares of the medical research company’s stock valued at $337,000 after purchasing an additional 20 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Trading Down 1.2 %

NYSE TMO traded down $6.27 during trading on Friday, hitting $534.35. The company had a trading volume of 1,667,269 shares, compared to its average volume of 1,636,182. The company’s fifty day moving average is $565.05 and its 200-day moving average is $564.70. The company has a market cap of $203.97 billion, a price-to-earnings ratio of 34.28, a price-to-earnings-growth ratio of 2.49 and a beta of 0.77. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The business had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.64 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a $0.39 dividend. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. Thermo Fisher Scientific’s payout ratio is 10.01%.

Insider Activity at Thermo Fisher Scientific

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

Analysts Set New Price Targets

TMO has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Robert W. Baird dropped their price target on Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Barclays decreased their price objective 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, June 28th. Jefferies Financial Group reissued a “buy” rating and issued a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Finally, Evercore ISI lowered their price objective on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $605.63.

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.