Alecta Tjanstepension Omsesidigt Sells 430,800 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Alecta Tjanstepension Omsesidigt lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 33.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 850,700 shares of the medical research company's stock after selling 430,800 shares during the period. Thermo Fisher Scientific comprises 2.4% of Alecta Tjanstepension Omsesidigt's holdings, making the stock its 12th biggest holding. Alecta Tjanstepension Omsesidigt owned approximately 0.23% of Thermo Fisher Scientific worth $423,376,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Revolve Wealth Partners LLC lifted its stake in shares of Thermo Fisher Scientific by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock worth $255,000 after acquiring an additional 20 shares during the period. Port Capital LLC lifted its stake in shares of Thermo Fisher Scientific by 1.6% in the fourth quarter. Port Capital LLC now owns 1,385 shares of the medical research company's stock worth $721,000 after acquiring an additional 22 shares during the period. Clark Capital Management Group Inc. lifted its stake in shares of Thermo Fisher Scientific by 0.5% in the fourth quarter. Clark Capital Management Group Inc. now owns 4,445 shares of the medical research company's stock worth $2,312,000 after acquiring an additional 23 shares during the period. Monograph Wealth Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 0.3% in the fourth quarter. Monograph Wealth Advisors LLC now owns 8,656 shares of the medical research company's stock worth $4,507,000 after acquiring an additional 23 shares during the period. Finally, Intergy Private Wealth LLC lifted its stake in shares of Thermo Fisher Scientific by 5.8% in the first quarter. Intergy Private Wealth LLC now owns 419 shares of the medical research company's stock worth $208,000 after acquiring an additional 23 shares during the period. Institutional investors own 89.23% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TMO. Scotiabank raised Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective on the stock in a research note on Friday, July 11th. Royal Bank Of Canada dropped their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Argus dropped their price target on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research note on Tuesday, April 29th. Stifel Nicolaus dropped their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Finally, Evercore ISI dropped their price target on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $599.30.

Thermo Fisher Scientific Stock Up 9.2%

Thermo Fisher Scientific stock traded up $39.22 during trading on Wednesday, hitting $466.84. 8,928,119 shares of the company were exchanged, compared to its average volume of 2,063,628. The business's 50 day moving average is $410.38 and its 200 day moving average is $472.32. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88. The company has a market capitalization of $176.23 billion, a P/E ratio of 27.38, a PEG ratio of 1.96 and a beta of 0.77. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The business had revenue of $10.86 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the prior year, the company posted $5.37 earnings per share. Thermo Fisher Scientific's revenue was up 2.9% compared to the same quarter last year. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be paid a $0.43 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a yield of 0.37%. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.09%.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the transaction, the executive vice president owned 23,167 shares in the company, valued at $9,960,188.31. This represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by company insiders.

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.