Banque Pictet & Cie SA Sells 100,636 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Banque Pictet & Cie SA cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 59.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 67,325 shares of the medical research company's stock after selling 100,636 shares during the period. Banque Pictet & Cie SA's holdings in Thermo Fisher Scientific were worth $33,501,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. LBP AM SA raised its position in Thermo Fisher Scientific by 43.3% in the first quarter. LBP AM SA now owns 230,201 shares of the medical research company's stock worth $114,548,000 after acquiring an additional 69,507 shares during the period. Axxcess Wealth Management LLC raised its position in shares of Thermo Fisher Scientific by 8.3% during the 1st quarter. Axxcess Wealth Management LLC now owns 23,748 shares of the medical research company's stock valued at $11,817,000 after purchasing an additional 1,823 shares during the period. Rehmann Capital Advisory Group raised its position in shares of Thermo Fisher Scientific by 1.7% during the 1st quarter. Rehmann Capital Advisory Group now owns 2,447 shares of the medical research company's stock valued at $1,218,000 after purchasing an additional 42 shares during the period. Cornerstone Planning Group LLC raised its position in shares of Thermo Fisher Scientific by 105.0% during the 1st quarter. Cornerstone Planning Group LLC now owns 123 shares of the medical research company's stock valued at $61,000 after purchasing an additional 63 shares during the period. Finally, Brick & Kyle Associates raised its position in shares of Thermo Fisher Scientific by 0.3% during the 1st quarter. Brick & Kyle Associates now owns 9,868 shares of the medical research company's stock valued at $4,828,000 after purchasing an additional 30 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the completion of the sale, the executive vice president owned 23,167 shares in the company, valued at $9,960,188.31. This trade represents a 1.28% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.33% of the company's stock.

Wall Street Analyst Weigh In

TMO has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Royal Bank Of Canada decreased their price objective on shares of 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. Evercore ISI decreased their price objective on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a research report on Tuesday. Barclays reduced their price target on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 24th. Finally, Scotiabank upgraded shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target on the stock in a report on Friday. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $600.30.

Thermo Fisher Scientific Trading Up 1.0%

Shares of TMO stock traded up $4.29 during trading hours on Friday, reaching $435.02. 2,511,384 shares of the stock were exchanged, compared to its average volume of 1,999,630. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $627.88. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. The company's 50-day moving average price is $409.39 and its 200-day moving average price is $476.23. The firm has a market capitalization of $164.22 billion, a price-to-earnings ratio of 25.51, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77.

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 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 analysts' expectations of $10.23 billion. During the same period in the previous year, the company earned $5.11 EPS. The firm's revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.40%. Thermo Fisher Scientific's dividend payout ratio is presently 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.