Mediolanum International Funds Ltd Sells 30,151 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Mediolanum International Funds Ltd reduced its holdings in Thermo Fisher Scientific by 40.2%, now owning 44,925 shares valued at approximately $22.47 million.
• Thermo Fisher Scientific reported $5.36 EPS for the last quarter, exceeding the consensus estimate of $5.22, with revenue growth of 2.9% year-over-year.
• The company declared a quarterly dividend of $0.43 per share, with shares to be paid on October 15th, representing an annualized yield of 0.36%.

Mediolanum International Funds Ltd reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 40.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,925 shares of the medical research company's stock after selling 30,151 shares during the period. Mediolanum International Funds Ltd's holdings in Thermo Fisher Scientific were worth $22,470,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in TMO. Bernard Wealth Management Corp. bought a new stake in Thermo Fisher Scientific during the fourth quarter worth $25,000. Ameriflex Group Inc. bought a new stake in Thermo Fisher Scientific during the fourth quarter worth $30,000. IMA Advisory Services Inc. bought a new position in shares of Thermo Fisher Scientific in the 1st quarter valued at $35,000. Navigoe LLC bought a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of Thermo Fisher Scientific in the 1st quarter valued at $37,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Down 0.2%

NYSE TMO traded down $1.11 during trading hours on Wednesday, hitting $481.05. The company's stock had a trading volume of 791,918 shares, compared to its average volume of 2,511,103. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88. The company has a market capitalization of $181.59 billion, a PE ratio of 27.82, a price-to-earnings-growth ratio of 2.59 and a beta of 0.77. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. The company's 50-day simple moving average is $416.56 and its two-hundred day simple moving average is $468.86.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, topping the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The firm had revenue of $10.86 billion for the quarter, compared to analysts' expectations of $10.68 billion. During the same quarter last year, the firm earned $5.37 EPS. The company's quarterly revenue was up 2.9% compared to the same quarter last year. Research 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 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. The ex-dividend date is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.36%. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 9.95%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TMO. Wells Fargo & Company dropped their price target on Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. HSBC restated a "hold" rating and issued a $510.00 price objective on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Raymond James Financial restated an "outperform" rating and issued a $535.00 price objective (up from $525.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Finally, Scotiabank upgraded Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective for the company in a report on Friday, July 11th. Six investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $593.00.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 400 shares of the business's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the completion of the transaction, the executive vice president directly owned 22,367 shares in the company, valued at $10,735,712.66. The trade was a 1.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.33% of the company's stock.

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.