Pittenger & Anderson Inc. Sells 741 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Pittenger & Anderson Inc. lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 21,629 shares of the medical research company's stock after selling 741 shares during the period. Pittenger & Anderson Inc.'s holdings in Thermo Fisher Scientific were worth $10,763,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of TMO. Bernard Wealth Management Corp. bought a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $25,000. Ameriflex Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $30,000. Cassady Schiller Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 89.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company's stock worth $36,000 after buying an additional 33 shares during the period. VSM Wealth Advisory LLC acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $36,000. Finally, Navigoe LLC acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $37,000. Institutional investors own 89.23% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on TMO shares. Robert W. Baird decreased their price objective on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group set a $610.00 price target on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Royal Bank Of Canada reduced their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. UBS Group cut shares of Thermo Fisher Scientific from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $500.00 to $460.00 in a report on Tuesday. Finally, Evercore ISI reduced their price target on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $600.30.

Thermo Fisher Scientific Stock Up 1.0%

TMO opened at $435.02 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. The company's 50-day moving average is $409.39 and its 200 day moving average is $476.23. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $627.88. The firm has a market capitalization of $164.22 billion, a P/E ratio of 25.51, a PEG ratio of 2.31 and a beta of 0.77.

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 earnings per share for the quarter, beating 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 company had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same period last year, the firm earned $5.11 earnings per share. The firm's revenue was up .2% on a year-over-year basis. Research analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's payout ratio is currently 10.09%.

Insider Buying and Selling

In other Thermo Fisher Scientific 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 owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate 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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