Hall Capital Management Co. Inc. grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,890 shares of the medical research company’s stock after acquiring an additional 320 shares during the quarter. Hall Capital Management Co. Inc.’s holdings in Thermo Fisher Scientific were worth $1,065,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of TMO. Truvestments Capital LLC bought a new stake in shares of Thermo Fisher Scientific in the 1st quarter valued at approximately $29,000. Capital Financial Planning LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $27,000. Hanson McClain Inc. grew its stake in Thermo Fisher Scientific by 263.9% during the 4th quarter. Hanson McClain Inc. now owns 131 shares of the medical research company’s stock worth $29,000 after buying an additional 95 shares during the last quarter. CX Institutional bought a new position in Thermo Fisher Scientific during the 1st quarter worth $36,000. Finally, Capital Investment Advisory Services LLC bought a new position in Thermo Fisher Scientific during the 4th quarter worth $35,000. 87.96% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the company. Zacks Investment Research upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $299.00 price target for the company in a research report on Wednesday. Wolfe Research assumed coverage on Thermo Fisher Scientific in a research report on Thursday, May 30th. They set an “outperform” rating for the company. Needham & Company LLC reiterated a “strong-buy” rating and set a $315.00 price target (up previously from $313.00) on shares of Thermo Fisher Scientific in a research report on Thursday, May 23rd. BTIG Research upped their price objective on Thermo Fisher Scientific to $320.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, UBS Group upped their price target on Thermo Fisher Scientific from $305.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, May 23rd. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $295.92.
Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 24th. The medical research company reported $2.81 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.74 by $0.07. The firm had revenue of $6.13 billion for the quarter, compared to analyst estimates of $6.04 billion. Thermo Fisher Scientific had a return on equity of 17.06% and a net margin of 12.89%. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 earnings per share. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 12.2 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Friday, June 14th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend is Thursday, June 13th. Thermo Fisher Scientific’s dividend payout ratio is 6.83%.
In related news, Director C Martin Harris sold 275 shares of the business’s stock in a transaction that occurred on Wednesday, June 5th. The stock was sold at an average price of $270.73, for a total value of $74,450.75. Following the completion of the sale, the director now directly owns 6,433 shares in the company, valued at $1,741,606.09. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Stephen Williamson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $268.29, for a total value of $670,725.00. Following the completion of the sale, the chief financial officer now owns 40,029 shares of the company’s stock, valued at $10,739,380.41. The disclosure for this sale can be found here. Insiders sold a total of 53,488 shares of company stock worth $14,600,474 in the last three months. Company insiders own 0.45% of the company’s stock.
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About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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