Federated Hermes Inc. Cuts Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Federated Hermes Inc. trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 15.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 75,361 shares of the medical research company's stock after selling 13,696 shares during the quarter. Federated Hermes Inc.'s holdings in Thermo Fisher Scientific were worth $37,500,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $25,000. Ameriflex Group Inc. purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $30,000. IMA Advisory Services Inc. purchased a new position in Thermo Fisher Scientific during the first quarter worth about $35,000. Navigoe LLC purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Thermo Fisher Scientific during the first quarter worth about $37,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO traded down $4.94 during midday trading on Friday, hitting $462.74. The company's stock had a trading volume of 2,756,840 shares, compared to its average volume of 3,223,400. The stock has a fifty day moving average price of $419.50 and a 200 day moving average price of $468.31. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $627.88. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $174.68 billion, a price-to-earnings ratio of 26.76, a P/E/G ratio of 2.50 and a beta of 0.74.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, topping analysts' consensus estimates of $5.22 by $0.14. The business had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. Thermo Fisher Scientific's revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.37 EPS. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal 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 issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio is 9.95%.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Royal Bank Of Canada cut their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Scotiabank raised shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective on the stock in a research report on Friday, July 11th. Stifel Nicolaus lowered their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Robert W. Baird lifted their price objective on shares of Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an "outperform" rating in a research report on Thursday, July 24th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $535.00 price objective (up previously from $525.00) on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Six research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $593.00.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 400 shares of the company's stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the sale, the executive vice president owned 22,367 shares of the company's stock, valued at approximately $10,735,712.66. This represents a 1.76% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company's stock.

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.