Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by OLD National Bancorp IN

OLD National Bancorp IN reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,064 shares of the medical research company's stock after selling 1,162 shares during the quarter. OLD National Bancorp IN's holdings in Thermo Fisher Scientific were worth $19,936,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cypress Advisory Group LLC bought a new stake in Thermo Fisher Scientific in the fourth quarter worth $253,000. Intact Investment Management Inc. lifted its position in Thermo Fisher Scientific by 34.0% in the fourth quarter. Intact Investment Management Inc. now owns 2,600 shares of the medical research company's stock worth $1,353,000 after buying an additional 660 shares during the last quarter. Purkiss Capital Advisors LLC bought a new stake in Thermo Fisher Scientific in the fourth quarter worth $1,121,000. W.H. Cornerstone Investments Inc. lifted its position in Thermo Fisher Scientific by 25.1% in the fourth quarter. W.H. Cornerstone Investments Inc. now owns 2,870 shares of the medical research company's stock worth $1,493,000 after buying an additional 576 shares during the last quarter. Finally, Van ECK Associates Corp grew its position in Thermo Fisher Scientific by 19.7% in the 4th quarter. Van ECK Associates Corp now owns 418,365 shares of the medical research company's stock valued at $217,646,000 after acquiring an additional 68,927 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Up 0.9%

Shares of TMO stock traded up $3.63 during trading hours on Friday, reaching $401.99. 2,629,538 shares of the company's stock were exchanged, compared to its average volume of 1,910,947. The stock has a market cap of $151.75 billion, a PE ratio of 24.32, a PEG ratio of 2.99 and a beta of 0.78. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock's fifty day moving average price is $420.74 and its two-hundred day moving average price is $495.81. Thermo Fisher Scientific Inc. has a 1 year low of $390.50 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results 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. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. During the same quarter in the prior year, the business posted $5.11 EPS. Thermo Fisher Scientific's revenue for the quarter was up .2% compared to the same quarter last year. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a yield of 0.43%. Thermo Fisher Scientific's payout ratio is presently 10.09%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Stifel Nicolaus lowered their target price on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Wells Fargo & Company lowered their price objective on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Robert W. Baird reduced their target price on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group set a $610.00 price target on Thermo Fisher Scientific and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Barclays reduced their price objective on Thermo Fisher Scientific from $620.00 to $475.00 and set an "equal weight" rating on the stock in a report on Thursday, April 10th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of "Moderate Buy" and a consensus price target of $605.30.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the 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 sale, the executive vice president now owns 23,167 shares in the company, valued at $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Boxer sold 3,775 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the sale, the senior vice president now directly owns 10,816 shares in the company, valued at approximately $5,759,736.32. The trade was a 25.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.33% of the company's stock.

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.