Praxis Investment Management Inc. decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 9.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,729 shares of the medical research company's stock after selling 1,790 shares during the period. Thermo Fisher Scientific comprises approximately 0.6% of Praxis Investment Management Inc.'s holdings, making the stock its 28th biggest holding. Praxis Investment Management Inc.'s holdings in Thermo Fisher Scientific were worth $8,324,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Thermo Fisher Scientific by 0.6% during 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 purchasing an additional 196,864 shares during the period. Capital World Investors boosted its stake in Thermo Fisher Scientific by 1.1% during 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 purchasing an additional 104,343 shares during the period. Geode Capital Management LLC boosted its stake in Thermo Fisher Scientific by 2.6% during 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 purchasing an additional 197,442 shares during the period. Norges Bank acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at about $3,149,754,000. Finally, Northern Trust Corp boosted its holdings in shares of Thermo Fisher Scientific by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock valued at $2,034,107,000 after acquiring an additional 455,004 shares in the last quarter. Institutional investors own 89.23% of the company's stock.
Insider Transactions at Thermo Fisher Scientific
In other news, EVP Gianluca Pettiti sold 300 shares of the 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 transaction, the executive vice president now owns 23,167 shares in the company, valued at $9,960,188.31. This represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.33% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
Several research firms have recently issued reports on TMO. Barclays decreased their price objective on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating for the company in a report on Thursday, April 10th. 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 report on Tuesday, April 29th. Wall Street Zen raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. UBS Group cut their target price on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Finally, Scotiabank cut their target price on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating for the company in a research note on Friday, April 25th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of "Moderate Buy" and an average price target of $605.30.
View Our Latest Research Report on Thermo Fisher Scientific
Thermo Fisher Scientific Stock Up 1.2%
TMO stock traded up $4.75 during midday trading on Friday, reaching $397.31. The company had a trading volume of 3,760,318 shares, compared to its average volume of 1,942,727. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $149.98 billion, a P/E ratio of 23.30, a PEG ratio of 2.10 and a beta of 0.78. The company has a 50 day moving average of $412.62 and a two-hundred day moving average of $487.56.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (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 company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. During the same quarter in the prior year, the firm earned $5.11 EPS. The company's revenue 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 Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.43%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.09%.
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.
Further Reading
Before you consider Thermo Fisher Scientific, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Thermo Fisher Scientific wasn't on the list.
While Thermo Fisher Scientific currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
