Parsons Capital Management Inc. RI Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Parsons Capital Management Inc. RI decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,198 shares of the medical research company's stock after selling 1,992 shares during the quarter. Thermo Fisher Scientific comprises about 0.9% of Parsons Capital Management Inc. RI's portfolio, making the stock its 21st biggest position. Parsons Capital Management Inc. RI's holdings in Thermo Fisher Scientific were worth $17,017,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $25,000. FPC Investment Advisory Inc. acquired a new stake in Thermo Fisher Scientific during the 4th quarter worth about $28,000. Pillar Financial Advisors LLC acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at about $29,000. Ameriflex Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $30,000. Finally, Noble Wealth Management PBC acquired a new position in Thermo Fisher Scientific in the 4th quarter worth approximately $35,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on TMO shares. Argus decreased their price objective on shares of 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. The Goldman Sachs Group set a $610.00 price target on shares of Thermo Fisher Scientific and gave the company a "buy" rating in a report on Wednesday, April 23rd. Evercore ISI decreased their price objective on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Wall Street Zen raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Wednesday, May 21st. Finally, Barclays lowered their price objective on 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 investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $605.30.

Insider Buying and Selling

In other 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 now directly owns 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 document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Trading Up 1.5%

TMO traded up $6.00 during trading hours on Tuesday, reaching $414.53. The company's stock had a trading volume of 2,573,612 shares, compared to its average volume of 1,914,596. Thermo Fisher Scientific Inc. has a fifty-two week low of $390.50 and a fifty-two week high of $627.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The stock has a market cap of $156.48 billion, a PE ratio of 25.08, a P/E/G ratio of 2.99 and a beta of 0.78. The business's 50-day moving average is $419.12 and its 200-day moving average is $494.94.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, topping the consensus estimate of $5.10 by $0.05. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $5.11 EPS. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th 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 of this dividend is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 10.09%.

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.