LRI Investments LLC Buys Shares of 260 Thermo Fisher Scientific Inc. (NYSE:TMO)

LRI Investments LLC bought a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 260 shares of the medical research company’s stock, valued at approximately $154,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TMO. Northwest Financial Advisors bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $29,000. True Wealth Design LLC grew its position in Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after buying an additional 51 shares during the last quarter. LifeSteps Financial Inc. acquired a new position in Thermo Fisher Scientific in the first quarter worth approximately $31,000. Headlands Technologies LLC purchased a new position in Thermo Fisher Scientific during the 1st quarter worth approximately $32,000. Finally, Pineridge Advisors LLC purchased a new position in Thermo Fisher Scientific during the 4th quarter worth approximately $39,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

Shares of TMO stock traded up $12.64 during trading hours on Friday, reaching $607.14. 2,715,365 shares of the company were exchanged, compared to its average volume of 1,737,231. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $614.65. The stock’s fifty day moving average is $563.01 and its two-hundred day moving average is $565.81. The company has a market cap of $231.76 billion, a price-to-earnings ratio of 38.94, a P/E/G ratio of 2.83 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.33.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 period in the prior year, the business earned $5.15 earnings per share. Thermo Fisher Scientific’s quarterly revenue was down 1.4% on a year-over-year basis. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. Thermo Fisher Scientific’s payout ratio is 10.01%.

Analysts Set New Price Targets

Several research firms have weighed in on TMO. TD Cowen lifted their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research report on Thursday. Stifel Nicolaus boosted their price target on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a report on Thursday. Robert W. Baird boosted their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a report on Thursday. JPMorgan Chase & Co. lifted their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group boosted their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $618.94.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total value of $5,672,800.00. Following the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at $70,238,340.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.34% 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.