Ameriprise Financial Inc. Lowers Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Ameriprise Financial Inc. cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 10.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,231,030 shares of the medical research company's stock after selling 249,621 shares during the quarter. Ameriprise Financial Inc. owned 0.58% of Thermo Fisher Scientific worth $1,160,661,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Thermo Fisher Scientific by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company's stock worth $17,297,426,000 after purchasing an additional 196,864 shares during the period. Capital World Investors grew its holdings in Thermo Fisher Scientific by 1.1% in the fourth quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock valued at $4,905,812,000 after purchasing an additional 104,343 shares during the last quarter. Geode Capital Management LLC lifted its stake in Thermo Fisher Scientific by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company's stock valued at $4,075,540,000 after buying an additional 197,442 shares in the last quarter. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $3,149,754,000. Finally, Franklin Resources Inc. increased its stake in Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company's stock valued at $2,935,377,000 after purchasing an additional 262,062 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the sale, the executive vice president now directly owns 23,167 shares in the company, valued at $9,960,188.31. The trade was a 1.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the sale, the chief executive officer now owns 115,174 shares in the company, valued at approximately $59,506,950.58. The trade was a 7.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 14,075 shares of company stock worth $7,305,942 in the last three months. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price target for the company in a report on Friday, January 10th. Scotiabank cut their target price on Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating on the stock in a research note on Friday, April 25th. Barclays cut their price objective on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating on the stock in a research note on Thursday, April 10th. Royal Bank of Canada dropped their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Robert W. Baird decreased their target price on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of "Moderate Buy" and an average target price of $607.43.

Thermo Fisher Scientific Stock Performance

TMO traded up $0.77 during trading on Wednesday, hitting $407.79. 2,959,388 shares of the company traded hands, compared to its average volume of 1,788,786. Thermo Fisher Scientific Inc. has a one year low of $403.51 and a one year high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The stock's fifty day moving average is $471.62 and its 200 day moving average is $518.58. The firm has a market cap of $153.94 billion, a P/E ratio of 24.67, a price-to-earnings-growth ratio of 2.99 and a beta of 0.82.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping analysts' consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same quarter in the prior year, the firm posted $5.11 EPS. Thermo Fisher Scientific's revenue was up .2% on a year-over-year basis. As a group, equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.42%. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 14th. Thermo Fisher Scientific's payout ratio is presently 10.09%.

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.