Kingsview Wealth Management LLC Has $10.72 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Kingsview Wealth Management LLC grew its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 6.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 21,535 shares of the medical research company's stock after acquiring an additional 1,238 shares during the period. Kingsview Wealth Management LLC's holdings in Thermo Fisher Scientific were worth $10,716,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Thermo Fisher Scientific by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company's stock valued at $17,297,426,000 after purchasing an additional 196,864 shares in the last quarter. Capital World Investors lifted its holdings in shares of Thermo Fisher Scientific by 1.1% in the fourth quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock valued at $4,905,812,000 after purchasing an additional 104,343 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company's stock valued at $4,075,540,000 after purchasing an additional 197,442 shares in the last quarter. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at $3,149,754,000. Finally, Northern Trust Corp lifted its holdings in shares of Thermo Fisher Scientific by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock valued at $2,034,107,000 after purchasing an additional 455,004 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO traded down $9.69 during trading on Friday, reaching $415.29. The stock had a trading volume of 2,647,234 shares, compared to its average volume of 2,020,511. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. The stock has a market capitalization of $156.77 billion, a PE ratio of 24.36, a P/E/G ratio of 2.21 and a beta of 0.77. The business's 50-day moving average price is $410.13 and its 200 day moving average price is $473.73. 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 issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, beating analysts' consensus estimates of $5.10 by $0.05. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. Thermo Fisher Scientific's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $5.11 earnings per share. As a group, equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio is currently 10.09%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the completion of the sale, the executive vice president owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the stock. UBS Group downgraded shares of Thermo Fisher Scientific from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $500.00 to $460.00 in a research note on Tuesday, July 8th. Barclays dropped their price target on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 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. The Goldman Sachs Group set a $610.00 price target on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Finally, Wall Street Zen raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $599.30.

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.