Patton Albertson Miller Group LLC Sells 3,488 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Patton Albertson Miller Group LLC decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 24.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 10,958 shares of the medical research company's stock after selling 3,488 shares during the quarter. Patton Albertson Miller Group LLC's holdings in Thermo Fisher Scientific were worth $5,453,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TMO. Norges Bank acquired a new position in Thermo Fisher Scientific in the fourth quarter worth about $3,149,754,000. GAMMA Investing LLC raised its position in Thermo Fisher Scientific by 60,610.9% in 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 purchasing an additional 2,415,346 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in Thermo Fisher Scientific by 86.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after purchasing an additional 1,433,444 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in Thermo Fisher Scientific by 1,905.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after purchasing an additional 858,193 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in Thermo Fisher Scientific by 140.7% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,093,866 shares of the medical research company's stock worth $569,062,000 after purchasing an additional 639,467 shares in the last quarter. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Trading Up 2.2%

TMO opened at $425.28 on Friday. The firm's fifty day moving average is $410.13 and its two-hundred day moving average is $473.73. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77. The firm has a market cap of $160.54 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.21 and a beta of 0.77. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $627.88.

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 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.05. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. The firm's revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.11 earnings per share. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 10.09%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TMO. Royal Bank Of Canada decreased their price objective on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Evercore ISI decreased their price objective on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research note on Tuesday, July 8th. Stifel Nicolaus decreased their price objective 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. Argus decreased 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 note on Tuesday, April 29th. Finally, Wells Fargo & Company decreased their price target on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a research note on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $599.30.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Company 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.

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