Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Lowered by Bancreek Capital Management LP

Bancreek Capital Management LP trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 10.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,050 shares of the medical research company's stock after selling 1,002 shares during the quarter. Thermo Fisher Scientific comprises 6.7% of Bancreek Capital Management LP's portfolio, making the stock its 8th largest position. Bancreek Capital Management LP's holdings in Thermo Fisher Scientific were worth $4,503,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bernard Wealth Management Corp. acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $25,000. Pillar Financial Advisors LLC bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at $29,000. Ameriflex Group Inc. bought a new position in shares of Thermo Fisher Scientific in the fourth quarter worth $30,000. Cassady Schiller Wealth Management LLC increased its holdings in shares of Thermo Fisher Scientific by 89.2% during the fourth quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company's stock valued at $36,000 after purchasing an additional 33 shares during the period. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at about $36,000. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Buying and Selling

In other 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 transaction, the executive vice president owned 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 Securities & Exchange Commission, which is available at this link. Insiders own 0.33% of the company's stock.

Analyst Ratings Changes

TMO has been the topic of several research analyst reports. UBS Group lowered their target price on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. Wells Fargo & Company dropped their target price on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Scotiabank decreased their price target on 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. Barclays dropped their price objective on Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 24th. Finally, Citigroup decreased their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $604.05.

Thermo Fisher Scientific Trading Up 1.5%

Shares of TMO traded up $6.28 during midday trading on Wednesday, hitting $427.75. The stock had a trading volume of 2,669,334 shares, compared to its average volume of 1,967,098. The business has a 50-day simple moving average of $409.16 and a two-hundred day simple moving average of $481.67. The firm has a market cap of $161.47 billion, a P/E ratio of 25.09, a price-to-earnings-growth ratio of 2.16 and a beta of 0.77. 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 fifty-two week low of $385.46 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 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 firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. During the same quarter last year, the business posted $5.11 EPS. The company's revenue was up .2% on a year-over-year basis. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.40%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio is currently 10.09%.

Thermo Fisher Scientific Company 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.