Financiere des Professionnels Fonds d investissement inc. Lowers Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Financiere des Professionnels Fonds d investissement inc. cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 8.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 18,380 shares of the medical research company's stock after selling 1,638 shares during the quarter. Financiere des Professionnels Fonds d investissement inc.'s holdings in Thermo Fisher Scientific were worth $9,146,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at about $25,000. Pillar Financial Advisors LLC purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at about $29,000. Ameriflex Group Inc. purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at about $30,000. Cassady Schiller Wealth Management LLC lifted its stake in shares of Thermo Fisher Scientific by 89.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company's stock valued at $36,000 after buying an additional 33 shares in the last quarter. Finally, VSM Wealth Advisory LLC purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $36,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president directly owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Trading Down 1.6%

Shares of NYSE:TMO traded down $6.70 on Wednesday, reaching $419.47. 2,719,807 shares of the company traded hands, compared to its average volume of 2,404,214. The stock has a market capitalization of $158.35 billion, a P/E ratio of 24.60, a price-to-earnings-growth ratio of 2.23 and a beta of 0.77. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. The business's 50-day simple moving average is $409.11 and its 200 day simple moving average is $478.29. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.05. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.23 billion. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. The firm's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.11 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a $0.43 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.41%. Thermo Fisher Scientific's dividend payout ratio is 10.09%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Stifel Nicolaus dropped their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Argus dropped 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 note on Tuesday, April 29th. Royal Bank Of Canada dropped 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 research note on Thursday, April 24th. Finally, Barclays decreased their target price on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 24th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $601.05.

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.