Reliant Investment Management LLC Grows Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Reliant Investment Management LLC raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% in the first quarter, Holdings Channel reports. The fund owned 12,336 shares of the medical research company’s stock after buying an additional 90 shares during the period. Thermo Fisher Scientific makes up approximately 3.2% of Reliant Investment Management LLC’s portfolio, making the stock its 13th biggest holding. Reliant Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $6,138,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Blue Zone Wealth Advisors LLC lifted its position in shares of Thermo Fisher Scientific by 12.5% during the 1st quarter. Blue Zone Wealth Advisors LLC now owns 11,390 shares of the medical research company’s stock worth $5,668,000 after purchasing an additional 1,264 shares during the last quarter. Congress Asset Management Co. raised its stake in Thermo Fisher Scientific by 23.5% in the first quarter. Congress Asset Management Co. now owns 167,749 shares of the medical research company’s stock valued at $83,472,000 after buying an additional 31,894 shares in the last quarter. Impact Capital Partners LLC lifted its holdings in Thermo Fisher Scientific by 7.3% during the 1st quarter. Impact Capital Partners LLC now owns 1,024 shares of the medical research company’s stock worth $510,000 after buying an additional 70 shares during the last quarter. Chemistry Wealth Management LLC increased its holdings in shares of Thermo Fisher Scientific by 77.3% in the 1st quarter. Chemistry Wealth Management LLC now owns 1,023 shares of the medical research company’s stock valued at $509,000 after acquiring an additional 446 shares during the last quarter. Finally, Pines Wealth Management LLC raised its position in shares of Thermo Fisher Scientific by 8.3% during the 1st quarter. Pines Wealth Management LLC now owns 2,613 shares of the medical research company’s stock worth $1,300,000 after acquiring an additional 200 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on TMO. Argus dropped their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Citigroup cut their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. Finally, Evercore ISI decreased their target price on Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $605.30.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the sale, the executive vice president now directly owns 23,167 shares in the company, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Boxer sold 3,775 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the transaction, the senior vice president now owns 10,816 shares of the company’s stock, valued at approximately $5,759,736.32. This represents a 25.87% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $401.99 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 company has a market cap of $151.75 billion, a PE ratio of 24.32, a P/E/G ratio of 2.99 and a beta of 0.78. The stock has a fifty day moving average price of $420.74 and a 200 day moving average price of $495.93. Thermo Fisher Scientific Inc. has a 1-year low of $390.50 and a 1-year high of $627.88.

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

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.43%. Thermo Fisher Scientific’s payout ratio is 10.09%.

About Thermo Fisher Scientific

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.