Avity Investment Management Inc. Sells 16,295 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Avity Investment Management Inc. decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 25.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 46,764 shares of the medical research company's stock after selling 16,295 shares during the period. Thermo Fisher Scientific makes up 1.9% of Avity Investment Management Inc.'s portfolio, making the stock its 27th biggest position. Avity Investment Management Inc.'s holdings in Thermo Fisher Scientific were worth $23,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. LaFleur & Godfrey LLC raised its stake in Thermo Fisher Scientific by 9.1% during the fourth quarter. LaFleur & Godfrey LLC now owns 29,767 shares of the medical research company's stock valued at $15,486,000 after buying an additional 2,488 shares in the last quarter. Brighton Jones LLC raised its stake in Thermo Fisher Scientific by 28.9% during the fourth quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock valued at $2,293,000 after buying an additional 988 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in Thermo Fisher Scientific during the fourth quarter valued at approximately $71,877,000. Revolve Wealth Partners LLC raised its stake in Thermo Fisher Scientific by 4.2% during the fourth 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 in the last quarter. Finally, Sargent Investment Group LLC raised its position in shares of Thermo Fisher Scientific by 7.1% during the 4th quarter. Sargent Investment Group LLC now owns 711 shares of the medical research company's stock worth $395,000 after purchasing an additional 47 shares during the period. Hedge funds and other institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Trading Up 0.9%

Shares of NYSE:TMO traded up $3.63 during mid-day trading on Friday, reaching $401.99. 2,629,538 shares of the company's stock were exchanged, compared to its average volume of 1,908,231. The firm has a market capitalization of $151.75 billion, a price-to-earnings ratio of 24.32, a PEG ratio of 2.99 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a twelve month low of $390.50 and a twelve month high of $627.88. The business's fifty day moving average price is $420.74 and its 200-day moving average price is $495.93.

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 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.05. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The firm's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $5.11 earnings per share. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TMO. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. UBS Group dropped their price target on Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Stifel Nicolaus lowered their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Argus lowered their target price on 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. Finally, Royal Bank of Canada lowered their target price on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and a consensus price target of $605.30.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the firm'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 completion of the sale, the executive vice president now directly owns 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael A. Boxer sold 3,775 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the sale, the senior vice president now directly owns 10,816 shares of the company's stock, valued at approximately $5,759,736.32. This represents a 25.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.33% of the company's stock.

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.