Pictet Asset Management Holding SA lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 7.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,879,274 shares of the medical research company's stock after purchasing an additional 193,378 shares during the period. Thermo Fisher Scientific accounts for 1.6% of Pictet Asset Management Holding SA's portfolio, making the stock its 5th largest holding. Pictet Asset Management Holding SA owned 0.76% of Thermo Fisher Scientific worth $1,432,816,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Thermo Fisher Scientific by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company's stock valued at $17,297,426,000 after buying an additional 196,864 shares during the last quarter. Capital World Investors grew its stake in Thermo Fisher Scientific by 1.1% in 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 grew its stake in Thermo Fisher Scientific by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company's stock valued at $4,075,540,000 after buying an additional 197,442 shares during the last quarter. Norges Bank acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at about $3,149,754,000. Finally, Northern Trust Corp grew its stake in Thermo Fisher Scientific by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock valued at $2,034,107,000 after buying an additional 455,004 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.
Thermo Fisher Scientific Price Performance
TMO stock traded down $6.01 during midday trading on Friday, reaching $418.98. The company had a trading volume of 302,324 shares, compared to its average volume of 2,011,316. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The company has a market capitalization of $158.16 billion, a P/E ratio of 24.57, a P/E/G ratio of 2.21 and a beta of 0.77. The firm has a 50-day moving average price of $410.13 and a 200-day moving average price of $473.73.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, topping analysts' consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. The business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.23 billion. During the same quarter in the previous year, the company earned $5.11 EPS. The business's quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.
Thermo Fisher Scientific Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.41%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.09%.
Insider Activity
In other news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction on Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.33% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently commented on TMO. UBS Group lowered shares of Thermo Fisher Scientific from a "buy" rating to a "neutral" rating and decreased their price target for the company from $500.00 to $460.00 in a research note on Tuesday, July 8th. The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Scotiabank upgraded shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 target price on the stock in a research report on Friday, July 11th. Argus decreased their target price 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. Finally, Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $599.30.
Check Out Our Latest Research Report on Thermo Fisher Scientific
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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