Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Increased by Patten & Patten Inc. TN

Patten & Patten Inc. TN raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 622 shares of the medical research company’s stock after purchasing an additional 30 shares during the quarter. Patten & Patten Inc. TN’s holdings in Thermo Fisher Scientific were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Bernard Wealth Management Corp. bought a new position in shares of Thermo Fisher Scientific in the fourth quarter worth $25,000. Ameriflex Group Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at about $30,000. IMA Advisory Services Inc. bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth about $35,000. Navigoe LLC acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Thermo Fisher Scientific during the first quarter valued at approximately $37,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Up 1.4%

Shares of NYSE TMO opened at $484.90 on Tuesday. The business has a 50-day moving average price of $415.18 and a two-hundred day moving average price of $468.77. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $183.04 billion, a PE ratio of 28.05, a PEG ratio of 2.56 and a beta of 0.77. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, beating analysts’ consensus estimates of $5.22 by $0.14. The firm had revenue of $10.86 billion for the quarter, compared to the consensus estimate of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The firm’s revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the firm posted $5.37 earnings per share. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.35%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific’s payout ratio is currently 9.95%.

Analyst Ratings Changes

A number of brokerages have issued reports on TMO. Raymond James Financial reaffirmed an “outperform” rating and set a $535.00 price target (up from $525.00) on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Evercore ISI decreased their target price on Thermo Fisher Scientific from $500.00 to $480.00 and set an “outperform” rating for the company in a research note on Tuesday, July 8th. Royal Bank Of Canada dropped their price target 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. HSBC reaffirmed a “hold” rating and issued a $510.00 price objective on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Finally, Stifel Nicolaus cut their target price on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $593.00.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the sale, the executive vice president owned 22,367 shares of the company’s stock, valued at approximately $10,735,712.66. The trade was a 1.76% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is owned by company insiders.

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.