Carnegie Investment Counsel trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,116 shares of the medical research company's stock after selling 2,835 shares during the period. Carnegie Investment Counsel's holdings in Thermo Fisher Scientific were worth $27,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also added to or reduced their stakes in TMO. Norges Bank purchased a new position in Thermo Fisher Scientific during the 4th quarter valued at about $3,149,754,000. GAMMA Investing LLC raised its position in shares of Thermo Fisher Scientific by 60,610.9% in the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after acquiring an additional 2,415,346 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its position in shares of Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after acquiring an additional 1,433,444 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of Thermo Fisher Scientific by 1,905.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after acquiring an additional 858,193 shares in the last quarter. Finally, Grantham Mayo Van Otterloo & Co. LLC raised its position in shares of Thermo Fisher Scientific by 140.7% in the 4th quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,093,866 shares of the medical research company's stock worth $569,062,000 after acquiring an additional 639,467 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.
Insiders Place Their Bets
In related news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction dated 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 owned 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.33% of the company's stock.
Thermo Fisher Scientific Stock Performance
Shares of TMO traded up $8.45 during mid-day trading on Thursday, reaching $475.16. The company had a trading volume of 6,234,018 shares, compared to its average volume of 2,942,801. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88. The company has a quick ratio of 1.38, a current ratio of 1.93 and a debt-to-equity ratio of 0.65. The stock has a market capitalization of $179.37 billion, a P/E ratio of 27.48, a PEG ratio of 2.25 and a beta of 0.77. The stock has a 50 day moving average of $412.43 and a two-hundred day moving average of $470.68.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, topping analysts' consensus estimates of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The firm had revenue of $10.86 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the prior year, the business earned $5.37 earnings per share. The company's revenue was up 2.9% compared to the same quarter last year. On average, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.
Thermo Fisher Scientific Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a yield of 0.36%. Thermo Fisher Scientific's payout ratio is 10.09%.
Wall Street Analyst Weigh In
TMO has been the subject of several recent research reports. The Goldman Sachs Group set a $610.00 price target on Thermo Fisher Scientific and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Stifel Nicolaus reduced their price target on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Robert W. Baird boosted their price target on Thermo Fisher Scientific from $553.00 to $567.00 and gave the stock an "outperform" rating in a research report on Thursday. HSBC reissued a "hold" rating and issued a $510.00 price target on shares of Thermo Fisher Scientific in a research report on Thursday. Finally, Barclays upped their target price on Thermo Fisher Scientific from $450.00 to $490.00 and gave the company an "equal weight" rating in a research report on Thursday. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $593.00.
Read Our Latest Stock Analysis on TMO
Thermo Fisher Scientific Company Profile
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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.
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