Impax Asset Management Group plc Cuts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Impax Asset Management Group plc trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 69.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,838 shares of the medical research company's stock after selling 431,255 shares during the period. Impax Asset Management Group plc owned about 0.05% of Thermo Fisher Scientific worth $94,956,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TMO. Brighton Jones LLC raised its position in shares of Thermo Fisher Scientific by 28.9% in the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock valued at $2,293,000 after purchasing an additional 988 shares during the last quarter. Revolve Wealth Partners LLC raised its position in shares of Thermo Fisher Scientific by 4.2% in the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock valued at $255,000 after purchasing an additional 20 shares during the last quarter. Bank Pictet & Cie Europe AG increased its holdings in Thermo Fisher Scientific by 0.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company's stock worth $79,677,000 after buying an additional 461 shares during the period. Assetmark Inc. increased its holdings in Thermo Fisher Scientific by 5.5% in the 4th quarter. Assetmark Inc. now owns 37,900 shares of the medical research company's stock worth $19,717,000 after buying an additional 1,979 shares during the period. Finally, Proficio Capital Partners LLC increased its holdings in Thermo Fisher Scientific by 32.1% in the 4th quarter. Proficio Capital Partners LLC now owns 1,466 shares of the medical research company's stock worth $763,000 after buying an additional 356 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Argus cut their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Royal Bank Of Canada dropped 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 note on Thursday, April 24th. Barclays dropped their price objective on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating on the stock in a research note on Tuesday, June 24th. Evercore ISI dropped their price objective on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Finally, Wall Street Zen raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Wednesday, May 21st. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of "Moderate Buy" and a consensus target price of $604.05.

Thermo Fisher Scientific Stock Up 0.1%

NYSE TMO traded up $0.49 on Friday, hitting $428.25. 1,359,321 shares of the stock were exchanged, compared to its average volume of 1,974,470. The company has a 50-day moving average price of $409.18 and a 200-day moving average price of $479.65. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $627.88. The company has a quick ratio of 1.38, a current ratio of 1.77 and a debt-to-equity ratio of 0.64. The company has a market cap of $161.66 billion, a PE ratio of 25.12, a PEG ratio of 2.28 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $10.36 billion during the quarter, compared to analysts' expectations of $10.23 billion. During the same quarter in the prior year, the business posted $5.11 EPS. The company's revenue for the quarter was up .2% on a year-over-year basis. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a $0.43 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a yield of 0.40%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.09%.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction on 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 owned 23,167 shares in the company, valued at $9,960,188.31. This represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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.