Sumitomo Life Insurance Co. Has $11.91 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sumitomo Life Insurance Co. boosted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 23.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,930 shares of the medical research company's stock after purchasing an additional 4,499 shares during the period. Thermo Fisher Scientific comprises approximately 0.4% of Sumitomo Life Insurance Co.'s investment portfolio, making the stock its 29th biggest holding. Sumitomo Life Insurance Co.'s holdings in Thermo Fisher Scientific were worth $11,908,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the company. One Charles Private Wealth Services LLC boosted its holdings in Thermo Fisher Scientific by 4.2% in the 4th quarter. One Charles Private Wealth Services LLC now owns 499 shares of the medical research company's stock valued at $260,000 after purchasing an additional 20 shares during the last quarter. Revolve Wealth Partners LLC grew its position in shares of Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock valued at $255,000 after buying an additional 20 shares during the last quarter. Holderness Investments Co. grew its position in shares of Thermo Fisher Scientific by 1.7% in the 4th quarter. Holderness Investments Co. now owns 1,277 shares of the medical research company's stock valued at $664,000 after buying an additional 21 shares during the last quarter. Port Capital LLC grew its position in Thermo Fisher Scientific by 1.6% during the 4th quarter. Port Capital LLC now owns 1,385 shares of the medical research company's stock worth $721,000 after purchasing an additional 22 shares during the last quarter. Finally, Clark Capital Management Group Inc. grew its position in Thermo Fisher Scientific by 0.5% during the 4th quarter. Clark Capital Management Group Inc. now owns 4,445 shares of the medical research company's stock worth $2,312,000 after purchasing an additional 23 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president owned 23,167 shares in the company, valued at $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Up 2.2%

TMO traded up $8.97 during midday trading on Thursday, hitting $425.28. 2,494,559 shares of the company's stock traded hands, compared to its average volume of 2,017,984. The company has a market cap of $160.54 billion, a PE ratio of 24.94, a price-to-earnings-growth ratio of 2.21 and a beta of 0.77. The stock's fifty day simple moving average is $410.13 and its 200-day simple moving average is $473.73. 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 one year low of $385.46 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, beating the consensus estimate of $5.10 by $0.05. The firm had revenue of $10.36 billion for 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 for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $5.11 earnings per share. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.43 per share. The ex-dividend date is Monday, September 15th. This represents a $1.72 annualized dividend and a yield of 0.40%. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.09%.

Analysts Set New Price Targets

Several analysts recently commented on TMO shares. Argus reduced 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 research note on Tuesday, April 29th. Barclays dropped their price target on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 24th. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Evercore ISI decreased their price objective on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating for the company in a research note on Tuesday, July 8th. Finally, UBS Group downgraded shares of Thermo Fisher Scientific from a "buy" rating to a "neutral" rating and decreased their target price for the company from $500.00 to $460.00 in a research note on Tuesday, July 8th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $600.30.

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.