Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Arrow Financial Corp

Arrow Financial Corp lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 39.9% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 4,869 shares of the medical research company's stock after selling 3,235 shares during the quarter. Arrow Financial Corp's holdings in Thermo Fisher Scientific were worth $2,423,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TMO. Norges Bank purchased a new stake in Thermo Fisher Scientific in the fourth quarter worth about $3,149,754,000. GAMMA Investing LLC lifted its stake in shares of Thermo Fisher Scientific by 60,610.9% during the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after acquiring an additional 2,415,346 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Thermo Fisher Scientific by 86.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after acquiring an additional 1,433,444 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in Thermo Fisher Scientific by 1,905.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock valued at $469,889,000 after purchasing an additional 858,193 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in Thermo Fisher Scientific by 140.7% during the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,093,866 shares of the medical research company's stock valued at $569,062,000 after purchasing an additional 639,467 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm'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 transaction, the executive vice president owned 23,167 shares of the company's stock, valued at $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on TMO shares. Stifel Nicolaus dropped their target price 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. Robert W. Baird lowered their price target on Thermo Fisher Scientific from $573.00 to $553.00 and set an "outperform" rating on the stock in a research report on Friday. Argus cut their price objective 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. Barclays dropped their price target on Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 24th. Finally, Evercore ISI lowered their price objective on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating for the company in a research report 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's stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average price target of $599.30.

Thermo Fisher Scientific Stock Down 2.3%

Shares of NYSE TMO traded down $9.60 during mid-day trading on Monday, hitting $405.15. The company had a trading volume of 2,730,401 shares, compared to its average volume of 2,025,880. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. The company has a market capitalization of $152.94 billion, a PE ratio of 18.94, a price-to-earnings-growth ratio of 2.21 and a beta of 0.77. The business's 50-day simple moving average is $410.38 and its 200 day simple moving average is $472.32.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) 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 firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same quarter last year, the company posted $5.11 earnings per share. The business's revenue was up .2% on a year-over-year basis. On average, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share 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 given a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.42%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 10.09%.

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.