Hanson & Doremus Investment Management Raises Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Hanson & Doremus Investment Management increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) by 10.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,033 shares of the medical research company’s stock after acquiring an additional 100 shares during the period. Hanson & Doremus Investment Management’s holdings in Thermo Fisher Scientific were worth $610,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TMO. Widmann Financial Services Inc. bought a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $26,000. Mystic Asset Management Inc. bought a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. Lee Financial Co bought a new position in Thermo Fisher Scientific during the fourth quarter valued at $32,000. Costello Asset Management INC bought a new position in Thermo Fisher Scientific during the fourth quarter valued at $33,000. Finally, Sumitomo Mitsui Financial Group Inc. grew its holdings in Thermo Fisher Scientific by 141.7% during the fourth quarter. Sumitomo Mitsui Financial Group Inc. now owns 58 shares of the medical research company’s stock valued at $38,000 after purchasing an additional 34 shares during the period. 87.48% of the stock is owned by institutional investors.

In other news, COO Michel Lagarde sold 17,150 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, May 24th. The shares were sold at an average price of $548.30, for a total transaction of $9,403,345.00. Following the completion of the transaction, the chief operating officer now directly owns 15,758 shares in the company, valued at $8,640,111.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 2nd. The stock was sold at an average price of $545.60, for a total transaction of $5,456,000.00. Following the completion of the transaction, the chief executive officer now owns 183,373 shares of the company’s stock, valued at $100,048,308.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,561 shares of company stock worth $23,557,413. Insiders own 0.43% of the company’s stock.

Shares of TMO traded up $4.99 during trading hours on Monday, hitting $548.27. The company had a trading volume of 37,954 shares, compared to its average volume of 1,545,514. The firm has a market cap of $214.63 billion, a P/E ratio of 28.59, a P/E/G ratio of 1.86 and a beta of 0.82. The stock’s 50 day moving average price is $539.82 and its 200 day moving average price is $569.47. The company has a quick ratio of 1.10, a current ratio of 1.56 and a debt-to-equity ratio of 0.77. Thermo Fisher Scientific Inc. has a 52-week low of $497.83 and a 52-week high of $672.34.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last posted its earnings results on Thursday, April 28th. The medical research company reported $7.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.17 by $1.08. The company had revenue of $11.82 billion for the quarter, compared to analysts’ expectations of $10.66 billion. Thermo Fisher Scientific had a return on equity of 25.33% and a net margin of 18.49%. Thermo Fisher Scientific’s quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the firm earned $7.21 earnings per share. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 22.7 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Wednesday, June 15th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, June 14th. This represents a $1.20 annualized dividend and a yield of 0.22%. Thermo Fisher Scientific’s payout ratio is 6.26%.

Several brokerages have weighed in on TMO. Wells Fargo & Company lowered Thermo Fisher Scientific from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $605.00 to $525.00 in a report on Monday, April 25th. StockNews.com initiated coverage on Thermo Fisher Scientific in a report on Thursday, March 31st. They set a “hold” rating for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $658.92.

Thermo Fisher Scientific Company Profile (Get Rating)

Thermo Fisher Scientific Inc offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. 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 to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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