Fragasso Financial Advisors Inc Lowers Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Fragasso Financial Advisors Inc cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 50.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,020 shares of the medical research company's stock after selling 4,129 shares during the quarter. Fragasso Financial Advisors Inc's holdings in Thermo Fisher Scientific were worth $2,000,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Bernard Wealth Management Corp. acquired a new position in Thermo Fisher Scientific during the fourth quarter valued at $25,000. Barrett & Company Inc. acquired a new position in Thermo Fisher Scientific during the fourth quarter valued at $28,000. FPC Investment Advisory Inc. acquired a new position in Thermo Fisher Scientific during the fourth quarter valued at $28,000. Pillar Financial Advisors LLC acquired a new position in Thermo Fisher Scientific during the fourth quarter valued at $29,000. Finally, Ameriflex Group Inc. acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter worth about $30,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TMO. Robert W. Baird decreased their price objective on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Citigroup decreased their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. Argus decreased their price objective 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. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Finally, Scotiabank reduced their price target on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating for the company in a research report on Friday, April 25th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $605.30.

Thermo Fisher Scientific Trading Down 0.4%

Shares of Thermo Fisher Scientific stock traded down $1.57 during mid-day trading on Thursday, hitting $402.09. The stock had a trading volume of 1,079,447 shares, compared to its average volume of 1,892,897. The firm has a 50-day moving average of $424.35 and a two-hundred day moving average of $497.38. Thermo Fisher Scientific Inc. has a 12-month low of $390.50 and a 12-month high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The firm has a market cap of $151.79 billion, a P/E ratio of 24.32, a price-to-earnings-growth ratio of 2.99 and a beta of 0.82.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, topping the consensus estimate of $5.10 by $0.05. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $5.11 EPS. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.43%. Thermo Fisher Scientific's payout ratio is 10.09%.

Insider Activity

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 3,775 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now directly owns 10,816 shares of the company's stock, valued at approximately $5,759,736.32. This trade represents a 25.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president now directly owns 23,167 shares in the company, valued at $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

About Thermo Fisher Scientific

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.