Bridges Investment Management Inc. boosted its stake in shares of Thermo Fisher Scientific Inc (NYSE:TMO) by 0.3% during the second quarter, Holdings Channel reports. The firm owned 15,405 shares of the medical research company’s stock after buying an additional 50 shares during the period. Bridges Investment Management Inc.’s holdings in Thermo Fisher Scientific were worth $2,688,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Gulf International Bank UK Ltd increased its position in Thermo Fisher Scientific by 2.1% in the first quarter. Gulf International Bank UK Ltd now owns 122,961 shares of the medical research company’s stock valued at $18,886,000 after buying an additional 2,500 shares during the period. Quadrant Capital Group LLC increased its position in Thermo Fisher Scientific by 3.7% in the first quarter. Quadrant Capital Group LLC now owns 2,913 shares of the medical research company’s stock valued at $439,000 after buying an additional 104 shares during the period. Newman Dignan & Sheerar Inc. increased its position in Thermo Fisher Scientific by 2.2% in the first quarter. Newman Dignan & Sheerar Inc. now owns 3,688 shares of the medical research company’s stock valued at $566,000 after buying an additional 80 shares during the period. Country Club Trust Company n.a. increased its position in Thermo Fisher Scientific by 4.9% in the first quarter. Country Club Trust Company n.a. now owns 40,390 shares of the medical research company’s stock valued at $6,204,000 after buying an additional 1,894 shares during the period. Finally, National Pension Service increased its position in Thermo Fisher Scientific by 1.3% in the first quarter. National Pension Service now owns 282,001 shares of the medical research company’s stock valued at $43,403,000 after buying an additional 3,599 shares during the period. Institutional investors and hedge funds own 87.15% of the company’s stock.

Thermo Fisher Scientific Inc (NYSE TMO) traded down 0.86% during midday trading on Thursday, hitting $171.77. The company had a trading volume of 721,372 shares. The stock’s 50-day moving average price is $176.96 and its 200-day moving average price is $165.20. Thermo Fisher Scientific Inc has a 52-week low of $139.07 and a 52-week high of $182.87. The stock has a market cap of $67.01 billion, a PE ratio of 29.93 and a beta of 1.06.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 26th. The medical research company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.92 billion. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. Thermo Fisher Scientific’s quarterly revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.03 EPS. On average, equities research analysts expect that Thermo Fisher Scientific Inc will post $9.24 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.45%.

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Several equities analysts have recently weighed in on TMO shares. Leerink Swann set a $187.00 target price on Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Thursday, April 27th. Barclays PLC set a $175.00 target price on Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Wednesday, April 26th. BTIG Research raised their target price on Thermo Fisher Scientific from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Deutsche Bank AG raised their target price on Thermo Fisher Scientific from $163.00 to $188.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Finally, Jefferies Group LLC raised their target price on Thermo Fisher Scientific from $160.00 to $175.00 and gave the company a “hold” rating in a research report on Friday, April 28th. One equities research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Thermo Fisher Scientific presently has an average rating of “Buy” and a consensus price target of $188.56.

In other Thermo Fisher Scientific news, insider Daniel P. Shine sold 4,688 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $171.88, for a total transaction of $805,773.44. Following the sale, the insider now owns 29,200 shares in the company, valued at approximately $5,018,896. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stephen Williamson sold 2,500 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $176.26, for a total value of $440,650.00. Following the sale, the chief financial officer now owns 37,790 shares in the company, valued at approximately $6,660,865.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,188 shares of company stock worth $4,702,223. 0.49% of the stock is owned by insiders.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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

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