Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 7.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,574 shares of the medical research company's stock after selling 805 shares during the period. Thermo Fisher Scientific makes up 1.0% of Portside Wealth Group LLC's investment portfolio, making the stock its 20th largest holding. Portside Wealth Group LLC's holdings in Thermo Fisher Scientific were worth $5,501,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of TMO. Cypress Advisory Group LLC acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at about $253,000. Intact Investment Management Inc. grew its position in shares of Thermo Fisher Scientific by 34.0% during the 4th quarter. Intact Investment Management Inc. now owns 2,600 shares of the medical research company's stock valued at $1,353,000 after acquiring an additional 660 shares during the period. Purkiss Capital Advisors LLC bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at $1,121,000. W.H. Cornerstone Investments Inc. increased its stake in shares of Thermo Fisher Scientific by 25.1% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 2,870 shares of the medical research company's stock worth $1,493,000 after purchasing an additional 576 shares in the last quarter. Finally, Van ECK Associates Corp lifted its position in shares of Thermo Fisher Scientific by 19.7% during the fourth quarter. Van ECK Associates Corp now owns 418,365 shares of the medical research company's stock worth $217,646,000 after acquiring an additional 68,927 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the transaction, the executive vice president now owns 23,167 shares in the company, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction on Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now directly owns 10,816 shares of the company's stock, valued at $5,759,736.32. The trade was a 25.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

TMO has been the topic of a number of recent analyst reports. Stifel Nicolaus lowered their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Argus decreased their price objective on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Royal Bank of Canada decreased their price objective on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Citigroup lowered their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Finally, UBS Group dropped their price target on Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $605.30.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock traded down $5.78 during trading hours on Thursday, reaching $397.88. 2,502,299 shares of the stock traded hands, compared to its average volume of 1,898,316. The company has a 50 day moving average price of $424.35 and a 200 day moving average price of $497.38. Thermo Fisher Scientific Inc. has a one year low of $390.50 and a one year high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $150.20 billion, a price-to-earnings ratio of 24.07, a P/E/G ratio of 2.99 and a beta of 0.82.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its 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 return on equity of 17.51% and a net margin of 14.78%. The company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.23 billion. During the same period last year, the firm earned $5.11 EPS. Thermo Fisher Scientific's revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts expect 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 declared 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. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a yield of 0.43%. Thermo Fisher Scientific's dividend payout ratio is presently 10.09%.

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.