Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Barnett & Company Inc.

Key Points

• Barnett & Company Inc. has reduced its holdings in Thermo Fisher Scientific by 38.6%, owning 6,535 shares worth $3,252,000 after selling 4,100 shares in the first quarter.
• Thermo Fisher Scientific reported an EPS of $5.36 for the last quarter, exceeding estimates, alongside a revenue of $10.86 billion, a 2.9% increase from the previous year.
• Insiders, including CEO Marc N. Casper, sold a total of 18,400 shares worth over $8.3 million in the last ninety days, indicating a shift in ownership among top executives.

Barnett & Company Inc. trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 38.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,535 shares of the medical research company's stock after selling 4,100 shares during the period. Thermo Fisher Scientific comprises about 2.7% of Barnett & Company Inc.'s investment portfolio, making the stock its 9th biggest position. Barnett & Company Inc.'s holdings in Thermo Fisher Scientific were worth $3,252,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Cobblestone Capital Advisors LLC NY raised its position in Thermo Fisher Scientific by 208.2% during the first quarter. Cobblestone Capital Advisors LLC NY now owns 2,105 shares of the medical research company's stock valued at $1,047,000 after purchasing an additional 1,422 shares during the period. Nuveen LLC bought a new position in Thermo Fisher Scientific in the first quarter worth approximately $532,360,000. Aigen Investment Management LP grew its stake in Thermo Fisher Scientific by 37.3% in the first quarter. Aigen Investment Management LP now owns 4,437 shares of the medical research company's stock worth $2,208,000 after purchasing an additional 1,206 shares in the last quarter. Cooper Financial Group grew its stake in Thermo Fisher Scientific by 21.1% in the first quarter. Cooper Financial Group now owns 2,408 shares of the medical research company's stock worth $1,198,000 after purchasing an additional 420 shares in the last quarter. Finally, Coronation Fund Managers Ltd. raised its position in shares of Thermo Fisher Scientific by 218.7% in the 1st quarter. Coronation Fund Managers Ltd. now owns 70,717 shares of the medical research company's stock worth $35,189,000 after acquiring an additional 48,531 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $479.98, for a total transaction of $191,992.00. Following the transaction, the executive vice president owned 22,367 shares of the company's stock, valued at approximately $10,735,712.66. This trade represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $451.82, for a total transaction of $4,518,200.00. Following the sale, the chief executive officer owned 115,174 shares of the company's stock, valued at $52,037,916.68. This trade represents a 7.99% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,400 shares of company stock worth $8,345,792. Corporate insiders own 0.33% of the company's stock.

Analyst Upgrades and Downgrades

TMO has been the subject of several analyst reports. Robert W. Baird increased their price objective on Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Wells Fargo & Company cut their price target on Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. HSBC restated a "hold" rating and issued a $510.00 price target on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Royal Bank Of Canada cut their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, Barclays boosted their price objective on Thermo Fisher Scientific from $450.00 to $490.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 24th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $593.00.

Thermo Fisher Scientific Trading Up 1.7%

NYSE TMO traded up $8.31 on Wednesday, reaching $485.72. The stock had a trading volume of 2,054,775 shares, compared to its average volume of 2,501,960. The firm has a market capitalization of $183.41 billion, a price-to-earnings ratio of 28.09, a P/E/G ratio of 2.47 and a beta of 0.74. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $627.88. The stock has a fifty day moving average price of $429.68 and a two-hundred day moving average price of $461.95.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share for the quarter, topping analysts' consensus estimates of $5.22 by $0.14. The business had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The company's revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.37 earnings per share. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 9.95%.

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.