Mengis Capital Management Inc. Buys Shares of 305 Thermo Fisher Scientific Inc. (NYSE:TMO)

Mengis Capital Management Inc. bought a new stake in Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) during the 4th quarter, HoldingsChannel reports. The fund bought 305 shares of the medical research company’s stock, valued at approximately $203,000.

A number of other hedge funds have also recently added to or reduced their stakes in TMO. Capital World Investors boosted its stake in shares of Thermo Fisher Scientific by 0.8% in the 3rd quarter. Capital World Investors now owns 14,886,786 shares of the medical research company’s stock valued at $8,505,340,000 after purchasing an additional 114,582 shares in the last quarter. Capital Research Global Investors boosted its stake in shares of Thermo Fisher Scientific by 2.0% in the 3rd quarter. Capital Research Global Investors now owns 9,245,957 shares of the medical research company’s stock valued at $5,282,543,000 after purchasing an additional 185,462 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Thermo Fisher Scientific by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 6,189,430 shares of the medical research company’s stock valued at $3,526,249,000 after purchasing an additional 119,371 shares in the last quarter. UBS Asset Management Americas Inc. boosted its stake in shares of Thermo Fisher Scientific by 18.5% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 2,861,482 shares of the medical research company’s stock valued at $1,634,850,000 after purchasing an additional 445,902 shares in the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of Thermo Fisher Scientific by 0.5% in the 4th quarter. Brown Advisory Inc. now owns 2,539,832 shares of the medical research company’s stock valued at $1,694,677,000 after purchasing an additional 12,091 shares in the last quarter. 86.17% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:TMO traded up $0.73 during mid-day trading on Tuesday, hitting $572.86. The company had a trading volume of 16,402 shares, compared to its average volume of 1,620,166. The firm has a fifty day moving average price of $565.15 and a 200 day moving average price of $598.77. The company has a market capitalization of $224.24 billion, a PE ratio of 29.44, a price-to-earnings-growth ratio of 1.80 and a beta of 0.82. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.50 and a quick ratio of 1.12. Thermo Fisher Scientific Inc. has a one year low of $438.72 and a one year high of $672.34.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last released its quarterly earnings data on Wednesday, February 2nd. The medical research company reported $6.54 earnings per share for the quarter, beating the consensus estimate of $5.22 by $1.32. The company had revenue of $10.70 billion during the quarter, compared to analyst estimates of $9.25 billion. Thermo Fisher Scientific had a net margin of 19.70% and a return on equity of 26.34%. Thermo Fisher Scientific’s revenue for the quarter was up 1.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $7.09 EPS. Research analysts expect that Thermo Fisher Scientific Inc. will post 22.52 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 14th. Shareholders of record on Wednesday, March 16th were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.21%. The ex-dividend date of this dividend was Tuesday, March 15th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.26. Thermo Fisher Scientific’s payout ratio is 6.17%.

Several equities research analysts recently commented on the stock. BTIG Research reiterated a “buy” rating and set a $718.00 target price on shares of Thermo Fisher Scientific in a research report on Thursday, February 3rd. StockNews.com assumed coverage on shares of Thermo Fisher Scientific in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating and set a $609.00 target price on the stock. in a research report on Monday, January 24th. Wells Fargo & Company cut their target price on shares of Thermo Fisher Scientific from $700.00 to $605.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 3rd. Finally, Barclays started coverage on shares of Thermo Fisher Scientific in a research report on Wednesday, January 26th. They set an “overweight” rating and a $700.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of “Buy” and an average price target of $652.33.

In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 1,500 shares of the business’s stock in a transaction on Monday, February 14th. The shares were sold at an average price of $563.95, for a total transaction of $845,925.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.44% of the company’s stock.

About Thermo Fisher Scientific (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.

Further Reading

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

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