Bridges Investment Management Inc. Purchases 85,120 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Bridges Investment Management Inc. boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 170.6% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 135,011 shares of the medical research company’s stock after purchasing an additional 85,120 shares during the quarter. Thermo Fisher Scientific makes up approximately 1.1% of Bridges Investment Management Inc.’s investment portfolio, making the stock its 25th largest holding. Bridges Investment Management Inc.’s holdings in Thermo Fisher Scientific were worth $74,661,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in TMO. Signature Resources Capital Management LLC increased its holdings in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. True Wealth Design LLC increased its holdings in shares of Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 51 shares in the last quarter. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific during the second quarter valued at about $29,000. Stephens Consulting LLC increased its holdings in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 29 shares in the last quarter. Finally, LifeSteps Financial Inc. acquired a new position in shares of Thermo Fisher Scientific during the first quarter valued at about $31,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Trading Up 1.7 %

Shares of NYSE:TMO opened at $620.26 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The firm has a market capitalization of $236.94 billion, a price-to-earnings ratio of 39.79, a price-to-earnings-growth ratio of 2.86 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The business’s 50 day moving average price is $598.25 and its 200-day moving average price is $581.25.

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, beating analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion for the quarter, compared to analyst estimates of $10.50 billion. During the same quarter last year, the firm posted $5.15 EPS. The business’s revenue was down 1.4% on a year-over-year basis. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm 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 0.25%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on TMO shares. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday. Stifel Nicolaus increased their price target on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Robert W. Baird increased their price target on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. TD Cowen increased their price target on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Finally, Jefferies Financial Group reiterated a “buy” rating and issued a $650.00 price target (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $632.89.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total value of $180,255.00. Following the transaction, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $1,201,700.00. Following the completion of the transaction, the senior vice president now owns 13,083 shares in the company, valued at approximately $7,860,920.55. The disclosure for this sale can be found here. Insiders have sold 23,084 shares of company stock worth $14,094,292 in the last quarter. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific 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.