Thermo Fisher Scientific Inc. (NYSE:TMO) Holdings Trimmed by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 21.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 32,518 shares of the medical research company's stock after selling 8,676 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Thermo Fisher Scientific were worth $16,181,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $25,000. FPC Investment Advisory Inc. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $28,000. Pillar Financial Advisors LLC purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $29,000. Ameriflex Group Inc. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $30,000. Finally, Noble Wealth Management PBC purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $35,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on TMO shares. Evercore ISI lowered their price target on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Citigroup decreased their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. UBS Group decreased their price objective on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Argus decreased 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 report on Tuesday, April 29th. Finally, Wells Fargo & Company decreased their price objective on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $605.30.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the sale, the executive vice president now owns 23,167 shares of the company's stock, valued at $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Up 0.6%

Thermo Fisher Scientific stock opened at $392.54 on Friday. The firm has a fifty day moving average price of $413.43 and a two-hundred day moving average price of $488.79. The firm has a market cap of $148.18 billion, a price-to-earnings ratio of 23.02, a P/E/G ratio of 2.07 and a beta of 0.78. 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 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 announced its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating analysts' consensus estimates 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 firm's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.11 earnings per share. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.44%. 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 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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