Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Eastern Bank

Eastern Bank cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 71.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,900 shares of the medical research company's stock after selling 22,803 shares during the quarter. Eastern Bank's holdings in Thermo Fisher Scientific were worth $4,429,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Bernard Wealth Management Corp. purchased a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $30,000. IMA Advisory Services Inc. acquired a new position in Thermo Fisher Scientific in the 1st quarter valued at $35,000. Navigoe LLC acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Thermo Fisher Scientific in the 1st quarter worth $37,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Trading Down 1.1%

Thermo Fisher Scientific stock traded down $4.94 during midday trading on Friday, reaching $462.74. 2,756,840 shares of the stock traded hands, compared to its average volume of 2,531,924. The company has a 50-day simple moving average of $419.50 and a two-hundred day simple moving average of $468.31. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $627.88. The firm has a market cap of $174.68 billion, a PE ratio of 26.76, a price-to-earnings-growth ratio of 2.55 and a beta of 0.77. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65.

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

Thermo Fisher Scientific Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on TMO shares. UBS Group raised their target price on Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Royal Bank Of Canada cut their target price 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. Scotiabank raised Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 target price for the company in a research note on Friday, July 11th. Robert W. Baird increased their price target on Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an "outperform" rating in a report on Thursday, July 24th. Finally, The Goldman Sachs Group set a $610.00 price target on Thermo Fisher Scientific and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and an average target price of $593.00.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $479.98, for a total value of $191,992.00. Following the sale, the executive vice president owned 22,367 shares of the company's stock, valued at $10,735,712.66. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.33% of the stock is owned by corporate 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.