West Branch Capital LLC Raises Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

West Branch Capital LLC raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.9% during the first quarter, HoldingsChannel reports. The firm owned 3,008 shares of the medical research company’s stock after buying an additional 296 shares during the quarter. West Branch Capital LLC’s holdings in Thermo Fisher Scientific were worth $1,497,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $3,149,754,000. GAMMA Investing LLC grew its stake in shares of Thermo Fisher Scientific by 60,610.9% during the first quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company’s stock valued at $1,203,859,000 after buying an additional 2,415,346 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of Thermo Fisher Scientific by 86.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company’s stock valued at $1,604,338,000 after buying an additional 1,433,444 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of Thermo Fisher Scientific by 1,905.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company’s stock valued at $469,889,000 after buying an additional 858,193 shares during the last quarter. Finally, Proficio Capital Partners LLC grew its stake in shares of Thermo Fisher Scientific by 68,617.0% during the fourth quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company’s stock valued at $396,810,000 after buying an additional 761,649 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently issued reports on TMO. Wells Fargo & Company dropped their price objective on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating on the stock in a research note on Thursday, April 24th. UBS Group dropped their price objective on Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus lowered their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Finally, Argus lowered their target price on Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $605.30.

Thermo Fisher Scientific Stock Down 3.2%

Thermo Fisher Scientific stock opened at $402.12 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The stock has a market capitalization of $151.80 billion, a price-to-earnings ratio of 24.33, a PEG ratio of 2.99 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1-year low of $390.50 and a 1-year high of $627.88. The business has a fifty day moving average price of $416.80 and a 200-day moving average price of $492.39.

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

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a yield of 0.43%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.09%.

Insider Buying and Selling

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