Conning Inc. Trims Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Conning Inc. lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 11.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 10,285 shares of the medical research company's stock after selling 1,297 shares during the period. Conning Inc.'s holdings in Thermo Fisher Scientific were worth $5,118,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of TMO. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at about $3,149,754,000. GAMMA Investing LLC increased its holdings in Thermo Fisher Scientific by 60,610.9% in the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after acquiring an additional 2,415,346 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after acquiring an additional 1,433,444 shares in the last quarter. Kovitz Investment Group Partners LLC increased its holdings in Thermo Fisher Scientific by 1,905.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after acquiring an additional 858,193 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Thermo Fisher Scientific in the 4th quarter worth approximately $377,901,000. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Trading Down 2.5%

Shares of TMO traded down $10.57 during trading hours on Monday, reaching $418.76. 2,497,096 shares of the company traded hands, compared to its average volume of 1,976,560. The firm has a market cap of $158.08 billion, a price-to-earnings ratio of 24.56, a PEG ratio of 2.28 and a beta of 0.77. 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 stock's fifty day moving average price is $409.18 and its 200 day moving average price is $479.39.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share 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 company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. During the same period in the prior year, the firm earned $5.11 earnings per share. The firm's revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share 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 dividend on an annualized basis and a yield of 0.41%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.09%.

Wall Street Analyst Weigh In

TMO has been the subject of several analyst reports. Barclays reduced their target price on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating for the company in a report on Tuesday, June 24th. Scotiabank cut their price objective on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating for the company in a report on Friday, April 25th. Evercore ISI cut their price objective on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Stifel Nicolaus cut their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Robert W. Baird cut their price objective on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and a consensus price target of $604.05.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business'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 transaction, the executive vice president directly owned 23,167 shares in the company, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.33% of the stock is currently owned by company insiders.

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.