Sumitomo Mitsui Trust Group Inc. Cuts Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 0.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,118,379 shares of the medical research company's stock after selling 638 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.30% of Thermo Fisher Scientific worth $556,505,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in TMO. Marathon Asset Management Ltd raised its holdings in shares of Thermo Fisher Scientific by 6.3% in the 1st quarter. Marathon Asset Management Ltd now owns 68,635 shares of the medical research company's stock valued at $34,182,000 after purchasing an additional 4,042 shares in the last quarter. Confluence Wealth Services Inc. increased its holdings in Thermo Fisher Scientific by 71.4% in the first quarter. Confluence Wealth Services Inc. now owns 4,518 shares of the medical research company's stock valued at $2,248,000 after buying an additional 1,882 shares during the last quarter. Highland Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 3.0% during the 1st quarter. Highland Capital Management LLC now owns 35,006 shares of the medical research company's stock worth $17,419,000 after buying an additional 1,027 shares during the last quarter. Mcdaniel Terry & Co. increased its holdings in shares of Thermo Fisher Scientific by 1.4% in the 1st quarter. Mcdaniel Terry & Co. now owns 30,674 shares of the medical research company's stock valued at $15,263,000 after acquiring an additional 434 shares during the last quarter. Finally, BSW Wealth Partners raised its position in shares of Thermo Fisher Scientific by 13.2% during the 1st quarter. BSW Wealth Partners now owns 1,457 shares of the medical research company's stock worth $725,000 after acquiring an additional 170 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $407.67 on Friday. The company's fifty day simple moving average is $409.74 and its 200-day simple moving average is $483.58. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88. The company has a market cap of $153.89 billion, a PE ratio of 23.91, a P/E/G ratio of 2.17 and a beta of 0.78.

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 EPS for the quarter, topping the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The firm had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same period in the previous year, the company posted $5.11 EPS. Thermo Fisher Scientific's revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced 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 of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.42%. Thermo Fisher Scientific's dividend payout ratio is presently 10.09%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Scotiabank dropped their price target on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating on the stock in a research note on Friday, April 25th. Stifel Nicolaus decreased their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Evercore ISI decreased their target price on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Robert W. Baird reduced their price objective on 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. Finally, Argus lowered their target price on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a research report on Tuesday, April 29th. Four investment 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 presently has a consensus rating of "Moderate Buy" and an average price target of $604.05.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company's 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 transaction, the executive vice president now directly owns 23,167 shares of the company's stock, 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 is available at the SEC website. Corporate insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Profile

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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