Beacon Investment Advisory Services Inc. Sells 8,867 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Beacon Investment Advisory Services Inc. lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 26.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 24,860 shares of the medical research company's stock after selling 8,867 shares during the period. Beacon Investment Advisory Services Inc.'s holdings in Thermo Fisher Scientific were worth $12,370,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TMO. Somerville Kurt F lifted its holdings in Thermo Fisher Scientific by 46.3% during the 1st quarter. Somerville Kurt F now owns 1,580 shares of the medical research company's stock valued at $786,000 after purchasing an additional 500 shares during the last quarter. Proficio Capital Partners LLC lifted its stake in shares of Thermo Fisher Scientific by 4.0% during the 1st quarter. Proficio Capital Partners LLC now owns 1,525 shares of the medical research company's stock worth $759,000 after buying an additional 59 shares during the last quarter. KLP Kapitalforvaltning AS boosted its holdings in shares of Thermo Fisher Scientific by 1.3% during the 1st quarter. KLP Kapitalforvaltning AS now owns 137,083 shares of the medical research company's stock worth $68,262,000 after buying an additional 1,800 shares during the period. Financial Partners Group Inc grew its stake in Thermo Fisher Scientific by 14.6% in the 1st quarter. Financial Partners Group Inc now owns 471 shares of the medical research company's stock valued at $234,000 after buying an additional 60 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd lifted its position in Thermo Fisher Scientific by 175.4% during the first quarter. Y Intercept Hong Kong Ltd now owns 7,937 shares of the medical research company's stock worth $3,949,000 after acquiring an additional 5,055 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred 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 transaction, the executive vice president directly owned 23,167 shares in the company, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Scotiabank upgraded Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 target price on the stock in a research note on Friday, July 11th. Stifel Nicolaus dropped their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Argus lowered their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Wells Fargo & Company decreased their target price on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Royal Bank Of Canada cut their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and a consensus price target of $593.00.

Thermo Fisher Scientific Trading Up 1.8%

TMO stock traded up $8.45 during trading on Thursday, reaching $475.16. The company had a trading volume of 6,234,018 shares, compared to its average volume of 2,942,801. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.38. 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 cap of $179.37 billion, a P/E ratio of 27.48, a PEG ratio of 2.25 and a beta of 0.77. The business has a 50 day moving average of $411.01 and a 200 day moving average of $471.10.

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 for the quarter, beating the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The company had revenue of $10.86 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter last year, the firm earned $5.37 earnings per share. The firm's quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed 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. This represents a $1.72 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's payout ratio 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.