Oakworth Capital Inc. Cuts Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Oakworth Capital Inc. reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 22.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,400 shares of the medical research company's stock after selling 693 shares during the quarter. Oakworth Capital Inc.'s holdings in Thermo Fisher Scientific were worth $1,194,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of TMO. Vanguard Group Inc. grew its position 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 during the last quarter. Capital World Investors grew its holdings in Thermo Fisher Scientific by 1.1% during the 4th quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock valued at $4,905,812,000 after buying an additional 104,343 shares during the last quarter. Geode Capital Management LLC raised 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 worth $4,075,540,000 after acquiring an additional 197,442 shares during 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 increased its position in Thermo Fisher Scientific by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock worth $2,034,107,000 after purchasing an additional 455,004 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TMO shares. Evercore ISI decreased their price target on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a research note 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. Argus dropped their target price on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research note on Tuesday, April 29th. Barclays lowered their price target on Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating for the company in a report on Tuesday. Finally, Wells Fargo & Company decreased their target price on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $604.05.

Thermo Fisher Scientific Stock Up 0.3%

NYSE:TMO opened at $412.02 on Friday. The stock has a 50-day simple moving average of $410.11 and a 200 day simple moving average of $484.47. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $627.88. The company has a market capitalization of $155.53 billion, a price-to-earnings ratio of 24.17, a price-to-earnings-growth ratio of 2.17 and a beta of 0.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same period in the prior year, the company posted $5.11 EPS. The business's revenue was up .2% compared to the same quarter last year. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the sale, the executive vice president now directly owns 23,167 shares in the company, valued at $9,960,188.31. This trade represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.

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