Park Avenue Securities LLC decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 9.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,331 shares of the medical research company's stock after selling 1,542 shares during the quarter. Park Avenue Securities LLC's holdings in Thermo Fisher Scientific were worth $7,629,000 as of its most recent SEC filing.
A number of other large investors have also modified their holdings of TMO. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $3,149,754,000. GAMMA Investing LLC grew its holdings in shares of Thermo Fisher Scientific by 60,610.9% during the first 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 in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Thermo Fisher Scientific by 86.9% during the 4th 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 acquiring an additional 1,433,444 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Thermo Fisher Scientific by 1,905.4% during the 4th 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 during the last quarter. Finally, Proficio Capital Partners LLC boosted its position in shares of Thermo Fisher Scientific by 68,617.0% during the 4th 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 during the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.
Wall Street Analyst Weigh In
TMO has been the topic of several recent research reports. 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. Argus lowered their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Barclays lowered their price target 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. Royal Bank of Canada lowered their price target 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. 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 given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $605.30.
Read Our Latest Stock Analysis on TMO
Insider Buying and Selling
In related news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 23,167 shares in the company, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.33% of the company's stock.
Thermo Fisher Scientific Stock Up 0.9%
Shares of TMO opened at $401.99 on Monday. The stock has a market capitalization of $151.75 billion, a PE ratio of 24.32, a P/E/G ratio of 2.99 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1 year low of $390.50 and a 1 year high of $627.88. 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 company's 50-day simple moving average is $420.74 and its 200-day simple moving average is $495.68.
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 net margin of 14.78% and a return on equity of 17.51%. The firm 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 firm earned $5.11 earnings per share. The business's quarterly revenue was up .2% compared to the same quarter last year. Analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.
Thermo Fisher Scientific Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.43%. Thermo Fisher Scientific's payout ratio is 10.09%.
About Thermo Fisher Scientific
(
Free Report)
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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