Janney Montgomery Scott LLC Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Janney Montgomery Scott LLC lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 7.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 122,433 shares of the medical research company's stock after selling 9,505 shares during the quarter. Janney Montgomery Scott LLC's holdings in Thermo Fisher Scientific were worth $60,923,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TMO. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $3,149,754,000. GAMMA Investing LLC lifted its holdings in Thermo Fisher Scientific by 60,610.9% in the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after buying an additional 2,415,346 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Thermo Fisher Scientific by 86.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock valued at $1,604,338,000 after buying an additional 1,433,444 shares during the period. Kovitz Investment Group Partners LLC raised its holdings in shares of Thermo Fisher Scientific by 1,905.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock valued at $469,889,000 after acquiring an additional 858,193 shares in the last quarter. Finally, Proficio Capital Partners LLC boosted its holdings in Thermo Fisher Scientific by 68,617.0% in the fourth quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company's stock valued at $396,810,000 after acquiring an additional 761,649 shares in the last quarter. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $405.15 on Tuesday. The stock has a 50 day moving average price of $416.55 and a 200-day moving average price of $491.11. Thermo Fisher Scientific Inc. has a one year low of $390.50 and a one year high of $627.88. The stock has a market cap of $152.94 billion, a price-to-earnings ratio of 24.51, a price-to-earnings-growth 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.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its 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. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The business had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. During the same quarter in the prior year, the firm posted $5.11 earnings per share. The business's revenue for the quarter was up .2% on a year-over-year basis. Equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a $0.43 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a yield of 0.42%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.09%.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the 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 owns 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on TMO. Citigroup cut their target price on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating on the stock in a research note on Tuesday, March 4th. Stifel Nicolaus reduced their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. UBS Group dropped their price target on Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Barclays reduced their target price on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating on the stock in a research report on Thursday, April 10th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $605.30.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.