Franklin Street Advisors Inc. NC Sells 883 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Franklin Street Advisors Inc. NC lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.6% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 32,703 shares of the medical research company's stock after selling 883 shares during the quarter. Franklin Street Advisors Inc. NC's holdings in Thermo Fisher Scientific were worth $16,273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of TMO. Norges Bank bought a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $3,149,754,000. GAMMA Investing LLC increased its stake in Thermo Fisher Scientific by 60,610.9% during 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 during the period. T. Rowe Price Investment Management Inc. raised 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 valued at $1,604,338,000 after acquiring an additional 1,433,444 shares in the last quarter. Kovitz Investment Group Partners LLC grew its holdings in shares of Thermo Fisher Scientific by 1,905.4% during 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 purchasing an additional 858,193 shares in the last quarter. Finally, Proficio Capital Partners LLC lifted its position in Thermo Fisher Scientific by 68,617.0% during the fourth quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company's stock worth $396,810,000 after purchasing an additional 761,649 shares during the period. Institutional investors own 89.23% of the company's stock.

Wall Street Analyst Weigh In

TMO has been the topic of several analyst reports. Evercore ISI reduced 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 research report on Thursday, April 24th. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Wells Fargo & Company lowered their target price on Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Barclays dropped their price objective on shares of Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating for the company in a research note on Thursday, April 10th. Finally, The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of "Moderate Buy" and a consensus target price of $605.30.

Insider Activity

In other Thermo Fisher Scientific 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 transaction of $128,979.00. Following the sale, the executive vice president now directly owns 23,167 shares of the company's stock, valued at $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.33% of the company's stock.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock traded down $13.21 during mid-day trading on Friday, hitting $402.12. 2,384,678 shares of the stock were exchanged, compared to its average volume of 1,927,219. The company has a market capitalization of $151.80 billion, a P/E ratio of 24.33, a P/E/G 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. The company has a 50-day simple moving average of $417.11 and a 200 day simple moving average of $493.15. Thermo Fisher Scientific Inc. has a 12 month low of $390.50 and a 12 month 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.10 by $0.05. The firm had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The business's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.11 EPS. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a $0.43 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.43%. Thermo Fisher Scientific's 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.