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

Alecta Tjanstepension Omsesidigt lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 33.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 850,700 shares of the medical research company's stock after selling 430,800 shares during the period. Thermo Fisher Scientific comprises about 2.4% of Alecta Tjanstepension Omsesidigt's investment portfolio, making the stock its 12th biggest holding. Alecta Tjanstepension Omsesidigt owned approximately 0.23% of Thermo Fisher Scientific worth $423,376,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Revolve Wealth Partners LLC increased its position 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 valued at $255,000 after buying an additional 20 shares in the last quarter. Port Capital LLC increased its position 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 valued at $721,000 after buying an additional 22 shares in the last quarter. Clark Capital Management Group Inc. increased its position in shares of Thermo Fisher Scientific by 0.5% during 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 purchasing an additional 23 shares in the last quarter. Monograph Wealth Advisors LLC increased its position in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Monograph Wealth Advisors LLC now owns 8,656 shares of the medical research company's stock worth $4,507,000 after purchasing an additional 23 shares in the last quarter. Finally, Intergy Private Wealth LLC increased its position in shares of Thermo Fisher Scientific by 5.8% during the first quarter. Intergy Private Wealth LLC now owns 419 shares of the medical research company's stock worth $208,000 after purchasing an additional 23 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO traded up $22.87 during mid-day trading on Tuesday, hitting $427.81. 3,672,095 shares of the company's stock were exchanged, compared to its average volume of 2,035,922. The stock's 50-day simple moving average is $410.38 and its 200-day simple moving average is $472.32. The firm has a market cap of $161.49 billion, a price-to-earnings ratio of 25.09, a price-to-earnings-growth ratio of 1.96 and a beta of 0.77. The company has a quick ratio of 1.38, a current ratio of 1.77 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, beating analysts' consensus estimates of $5.10 by $0.05. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. The company's quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $5.11 earnings per share. On average, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $0.43 dividend. The ex-dividend date is Monday, September 15th. This represents a $1.72 annualized dividend and a yield of 0.40%. Thermo Fisher Scientific's payout ratio is 10.09%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Argus decreased their target price 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. Robert W. Baird cut their price target on Thermo Fisher Scientific from $573.00 to $553.00 and set an "outperform" rating on the stock in a report on Friday. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Scotiabank upgraded 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 report on Friday, July 11th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific has a consensus rating of "Moderate Buy" and an average price target of $599.30.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president directly owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is currently owned by insiders.

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.