Allspring Global Investments Holdings LLC Buys 36,169 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Allspring Global Investments Holdings LLC raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 40.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 125,565 shares of the medical research company’s stock after buying an additional 36,169 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Thermo Fisher Scientific were worth $72,980,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Oak Thistle LLC purchased a new stake in shares of Thermo Fisher Scientific during the first quarter worth $321,000. Park Place Capital Corp grew its stake in shares of Thermo Fisher Scientific by 14.0% during the first quarter. Park Place Capital Corp now owns 2,530 shares of the medical research company’s stock valued at $1,470,000 after buying an additional 311 shares during the last quarter. Claro Advisors LLC bought a new position in shares of Thermo Fisher Scientific during the first quarter valued at about $345,000. Talbot Financial LLC grew its stake in shares of Thermo Fisher Scientific by 2.5% during the first quarter. Talbot Financial LLC now owns 15,481 shares of the medical research company’s stock valued at $8,998,000 after buying an additional 374 shares during the last quarter. Finally, Miracle Mile Advisors LLC grew its stake in shares of Thermo Fisher Scientific by 2.3% during the first quarter. Miracle Mile Advisors LLC now owns 5,440 shares of the medical research company’s stock valued at $3,162,000 after buying an additional 121 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO traded down $4.24 during midday trading on Tuesday, hitting $537.48. The company had a trading volume of 117,111 shares, compared to its average volume of 1,539,675. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.33. The company has a market cap of $205.17 billion, a price-to-earnings ratio of 34.75, a PEG ratio of 2.58 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $603.82. The company has a fifty day moving average of $574.84 and a two-hundred day moving average of $563.36.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The firm had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. On average, equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. Thermo Fisher Scientific’s payout ratio is presently 10.01%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $572.41, for a total value of $5,724,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $70,873,516.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $70,873,516.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,000 shares of company stock worth $12,532,780. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Citigroup started coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They set a “neutral” rating and a $620.00 price objective on the stock. Jefferies Financial Group reissued a “buy” rating and issued a $650.00 target price (up from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Evercore ISI upped their target price on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. The Goldman Sachs Group upped their target price on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Barclays reduced their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating on the stock in a report on Friday. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $607.06.

Thermo Fisher Scientific Company 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.