Gateway Investment Advisers LLC Sells 50,320 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Gateway Investment Advisers LLC lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 64.6% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 27,577 shares of the medical research company's stock after selling 50,320 shares during the period. Gateway Investment Advisers LLC's holdings in Thermo Fisher Scientific were worth $13,722,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth $25,000. Barrett & Company Inc. bought a new stake in Thermo Fisher Scientific in the 4th quarter valued at $28,000. FPC Investment Advisory Inc. bought a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $28,000. Pillar Financial Advisors LLC acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at about $29,000. Finally, Ameriflex Group Inc. acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth about $30,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Activity

In other news, SVP Michael A. Boxer sold 3,775 shares of the 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 completion of the sale, the senior vice president now owns 10,816 shares of the company's stock, valued at $5,759,736.32. This represents a 25.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the transaction, the executive vice president now directly owns 23,167 shares of the company's stock, valued at $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on TMO shares. Citigroup cut their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Stifel Nicolaus dropped their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Royal Bank of Canada decreased their target price on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company dropped their price target 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. Finally, Barclays decreased their price objective on Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $605.30.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $401.99 on Friday. Thermo Fisher Scientific Inc. has a 52 week low of $390.50 and a 52 week high of $627.88. The stock has a market capitalization of $151.75 billion, a PE ratio of 24.32, a PEG ratio of 2.99 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The stock's fifty day moving average is $420.74 and its 200-day moving average is $495.93.

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

Thermo Fisher Scientific Dividend Announcement

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

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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