Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Norden Group LLC

Key Points

• Norden Group LLC reduced its stake in Thermo Fisher Scientific by 8.6%, holding 6,346 shares worth approximately $3.16 million after selling 600 shares in the first quarter.
• The company reported a quarterly EPS of $5.36, exceeding analysts' expectations, with a revenue of $10.86 billion, showcasing a year-over-year growth of 2.9%.
• Thermo Fisher declared a quarterly dividend of $0.43, with a payout ratio of 9.95%, highlighting a stable return for shareholders.

Norden Group LLC lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 8.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,346 shares of the medical research company's stock after selling 600 shares during the period. Norden Group LLC's holdings in Thermo Fisher Scientific were worth $3,158,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Bernard Wealth Management Corp. purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $25,000. Ameriflex Group Inc. acquired a new position in Thermo Fisher Scientific during the fourth quarter worth $30,000. IMA Advisory Services Inc. purchased a new position in Thermo Fisher Scientific during the first quarter valued at $35,000. Navigoe LLC acquired a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Thermo Fisher Scientific during the 1st quarter worth about $37,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $478.61 on Monday. The business's fifty day simple moving average is $413.76 and its 200-day simple moving average is $469.17. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65. The firm has a market cap of $180.67 billion, a PE ratio of 27.68, a price-to-earnings-growth ratio of 2.56 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88.

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 (EPS) for the quarter, beating the consensus estimate of $5.22 by $0.14. The firm had revenue of $10.86 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.37 EPS. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a $0.43 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 annualized dividend and a yield of 0.36%. Thermo Fisher Scientific's dividend payout ratio is presently 9.95%.

Analyst Upgrades and Downgrades

TMO has been the topic of several research analyst reports. HSBC reiterated a "hold" rating and set a $510.00 price objective on shares of Thermo Fisher Scientific in a research note on Thursday. Scotiabank upgraded Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target for the company in a research report on Friday, July 11th. Royal Bank Of Canada decreased their price objective on Thermo Fisher Scientific from $651.00 to $637.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Argus dropped their target price on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Finally, Raymond James Financial reissued an "outperform" rating and issued a $535.00 price target (up from $525.00) on shares of Thermo Fisher Scientific in a research note on Thursday. Six analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $593.00.

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.

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