Allspring Global Investments Holdings LLC Has $50.68 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Allspring Global Investments Holdings LLC trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 10.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,937 shares of the medical research company's stock after selling 12,316 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Thermo Fisher Scientific were worth $50,681,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. LaFleur & Godfrey LLC increased its stake in Thermo Fisher Scientific by 9.1% during the 4th quarter. LaFleur & Godfrey LLC now owns 29,767 shares of the medical research company's stock valued at $15,486,000 after buying an additional 2,488 shares during the period. Brighton Jones LLC boosted its holdings in shares of Thermo Fisher Scientific by 28.9% in the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock valued at $2,293,000 after acquiring an additional 988 shares in the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock valued at $255,000 after acquiring an additional 20 shares during the period. Bank Pictet & Cie Europe AG lifted its position in Thermo Fisher Scientific by 0.3% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company's stock worth $79,677,000 after purchasing an additional 461 shares during the period. Finally, SVB Wealth LLC acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $3,545,000. Institutional investors own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

TMO has been the subject of several research reports. Argus decreased their target price on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Stifel Nicolaus dropped their target price on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Evercore ISI decreased their price target on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Finally, Royal Bank Of Canada cut their price objective on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $604.05.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president directly owned 23,167 shares of the company's stock, valued at $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Up 0.1%

Shares of NYSE:TMO traded up $0.49 during midday trading on Thursday, hitting $428.25. 1,359,321 shares of the stock were exchanged, compared to its average volume of 1,967,269. The business's fifty day simple moving average is $409.06 and its two-hundred day simple moving average is $481.30. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77. 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 $161.66 billion, a PE ratio of 25.12, a P/E/G ratio of 2.24 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly 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 return on equity of 17.15% and a net margin of 15.19%. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. During the same period last year, the business earned $5.11 EPS. The business's quarterly revenue was up .2% on a year-over-year basis. As a group, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.40%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.09%.

About Thermo Fisher Scientific

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.