Benjamin Edwards Inc. Sells 2,663 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Benjamin Edwards Inc. reduced its stake in Thermo Fisher Scientific by 18.5%, selling 2,663 shares during the first quarter, and now holds 11,709 shares valued at approximately $5.8 million.
• Thermo Fisher Scientific reported earnings of $5.36 per share for the last quarter, surpassing analyst estimates of $5.22, with a revenue of $10.86 billion, marking a year-over-year increase of 2.9%.
• The company announced a quarterly dividend of $0.43 per share, which will be paid on October 15th, contributing to an annualized dividend yield of 0.4%.

Benjamin Edwards Inc. decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 18.5% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 11,709 shares of the medical research company's stock after selling 2,663 shares during the period. Benjamin Edwards Inc.'s holdings in Thermo Fisher Scientific were worth $5,826,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the business. Revolve Wealth Partners LLC raised its stake in shares of Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock worth $255,000 after purchasing an additional 20 shares in the last quarter. Port Capital LLC raised its stake in shares of Thermo Fisher Scientific by 1.6% during the 4th quarter. Port Capital LLC now owns 1,385 shares of the medical research company's stock worth $721,000 after purchasing an additional 22 shares in the last quarter. Clark Capital Management Group Inc. raised its stake in shares of Thermo Fisher Scientific by 0.5% during the 4th 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 raised its stake in shares of Thermo Fisher Scientific by 0.3% during the 4th 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 raised its stake in shares of Thermo Fisher Scientific by 5.8% during the 1st 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. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $461.34 on Monday. The stock has a fifty day moving average price of $426.80 and a 200-day moving average price of $462.63. The company has a market cap of $174.21 billion, a price-to-earnings ratio of 26.68, a PEG ratio of 2.46 and a beta of 0.74. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, beating analysts' consensus estimates of $5.22 by $0.14. The firm had revenue of $10.86 billion during the quarter, compared to the consensus estimate of $10.68 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The company's revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company posted $5.37 EPS. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 annualized dividend and a yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.95%.

Analysts Set New Price Targets

TMO has been the topic of a number of analyst reports. Wall Street Zen cut Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a research note on Sunday. Raymond James Financial reissued an "outperform" rating and set a $535.00 target price (up from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Royal Bank Of Canada decreased their target price on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. UBS Group boosted their target price on Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Scotiabank raised 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 report on Friday, July 11th. Seven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $593.00.

Insider Activity

In related news, CEO Marc N. Casper sold 8,000 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $454.45, for a total value of $3,635,600.00. Following the sale, the chief executive officer directly owned 115,174 shares of the company's stock, valued at $52,340,824.30. This trade represents a 6.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 400 shares of the firm's stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the completion of the sale, the executive vice president directly owned 22,367 shares in the company, valued at $10,735,712.66. This trade represents a 1.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,400 shares of company stock worth $8,345,792 over the last ninety days. 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.

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