State of Alaska Department of Revenue Raises Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

State of Alaska Department of Revenue grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,807 shares of the medical research company's stock after buying an additional 1,195 shares during the quarter. State of Alaska Department of Revenue's holdings in Thermo Fisher Scientific were worth $22,295,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of TMO. CWA Asset Management Group LLC boosted its stake in Thermo Fisher Scientific by 4.3% in the first quarter. CWA Asset Management Group LLC now owns 1,435 shares of the medical research company's stock valued at $714,000 after acquiring an additional 59 shares during the last quarter. Marino Stram & Associates LLC raised its holdings in shares of Thermo Fisher Scientific by 4.2% in the 1st quarter. Marino Stram & Associates LLC now owns 1,812 shares of the medical research company's stock worth $901,000 after purchasing an additional 73 shares during the period. PUREfi Wealth LLC grew its holdings in Thermo Fisher Scientific by 10.8% during the first quarter. PUREfi Wealth LLC now owns 432 shares of the medical research company's stock valued at $215,000 after purchasing an additional 42 shares during the period. MN Wealth Advisors LLC increased its position in Thermo Fisher Scientific by 35.0% in the first quarter. MN Wealth Advisors LLC now owns 594 shares of the medical research company's stock worth $296,000 after buying an additional 154 shares during the last quarter. Finally, Wells Trecaso Financial Group LLC lifted its position in shares of Thermo Fisher Scientific by 1.3% during the 1st quarter. Wells Trecaso Financial Group LLC now owns 10,938 shares of the medical research company's stock valued at $5,443,000 after buying an additional 145 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Thermo Fisher Scientific 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 transaction, the executive vice president now directly owns 23,167 shares in the company, 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 can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TMO. Citigroup decreased their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Robert W. Baird reduced their target price on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Argus dropped 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. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, Evercore ISI cut their price target on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and an average price target of $605.30.

Thermo Fisher Scientific Trading Down 3.7%

Shares of TMO opened at $390.17 on Wednesday. Thermo Fisher Scientific Inc. has a fifty-two week low of $389.86 and a fifty-two week high of $627.88. The firm has a market cap of $147.29 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 2.14 and a beta of 0.78. The firm has a 50 day moving average price of $415.31 and a 200-day moving average price of $490.41. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.05. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. The company's revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $5.11 earnings per share. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.44%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio is 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.

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