Shufro Rose & Co. LLC Lowers Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Shufro Rose & Co. LLC reduced its stake in Thermo Fisher Scientific by 1.6%, lowering their holdings to 57,824 shares, which are valued at approximately $28.77 million.
• Analysts have mixed views on Thermo Fisher Scientific, with UBS Group raising the target price to $500 and Hsbc Global Res downgrading from a "strong-buy" to a "hold" rating.
• The company reported earnings of $5.36 EPS for the last quarter, surpassing analysts' expectations, and announced a quarterly dividend of $0.43 per share payable on October 15th.

Shufro Rose & Co. LLC trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 57,824 shares of the medical research company's stock after selling 916 shares during the quarter. Thermo Fisher Scientific comprises 2.3% of Shufro Rose & Co. LLC's investment portfolio, making the stock its 12th biggest position. Shufro Rose & Co. LLC's holdings in Thermo Fisher Scientific were worth $28,773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Thermo Fisher Scientific by 28.9% during the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock worth $2,293,000 after purchasing an additional 988 shares during the period. Revolve Wealth Partners LLC boosted its position in shares of Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock worth $255,000 after purchasing an additional 20 shares during the period. Bank Pictet & Cie Europe AG boosted its position in shares of Thermo Fisher Scientific by 0.3% during 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 purchasing an additional 461 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $48,000. Finally, World Investment Advisors boosted its position in shares of Thermo Fisher Scientific by 12.4% during the 4th quarter. World Investment Advisors now owns 16,955 shares of the medical research company's stock worth $8,820,000 after purchasing an additional 1,867 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the sale, the executive vice president directly owned 22,367 shares in the company, valued at $10,735,712.66. This trade represents a 1.76% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Stock Down 1.1%

Shares of TMO traded down $4.94 during midday trading on Friday, reaching $462.74. The stock had a trading volume of 2,756,840 shares, compared to its average volume of 3,223,400. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88. The company's fifty day simple moving average is $420.88 and its two-hundred day simple moving average is $467.66. The company has a market cap of $174.68 billion, a price-to-earnings ratio of 26.76, a PEG ratio of 2.47 and a beta of 0.74. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, topping the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a net margin of 15.24% and a return on equity of 16.82%. The firm had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period last year, the business earned $5.37 EPS. Thermo Fisher Scientific's revenue for the quarter was up 2.9% compared to the same quarter last year. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 9.95%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $535.00 price objective (up previously from $525.00) on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Evercore ISI reduced their target price on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating on the stock in a report on Tuesday, July 8th. Stifel Nicolaus reduced their target price on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company reduced their target price on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Finally, HSBC reiterated a "hold" rating and set a $510.00 target price on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Six analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $593.00.

About Thermo Fisher Scientific

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.