Envestnet Asset Management Inc. Lowers Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Envestnet Asset Management Inc. trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 800,297 shares of the medical research company's stock after selling 13,929 shares during the period. Envestnet Asset Management Inc. owned approximately 0.21% of Thermo Fisher Scientific worth $398,228,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $25,000. Ameriflex Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $30,000. Cassady Schiller Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 89.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company's stock valued at $36,000 after acquiring an additional 33 shares in the last quarter. VSM Wealth Advisory LLC bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $36,000. Finally, Navigoe LLC bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $37,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Trading Down 2.5%

Shares of Thermo Fisher Scientific stock opened at $418.76 on Tuesday. The company has a market capitalization of $158.08 billion, a P/E ratio of 24.56, a P/E/G ratio of 2.28 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77. The company has a fifty day moving average of $409.13 and a 200 day moving average of $478.65. 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 issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.05. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. Thermo Fisher Scientific's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.11 EPS. On average, sell-side analysts anticipate 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 Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific's payout ratio is currently 10.09%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Wall Street Zen raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Argus cut their target price on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Barclays cut their target price on shares of 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, Wells Fargo & Company cut their target price on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $604.05.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction 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 sale, the executive vice president owned 23,167 shares in the company, valued at $9,960,188.31. The trade was a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by insiders.

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.

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