Stock Yards Bank & Trust Co. Lowers Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Stock Yards Bank & Trust Co. lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 24.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,969 shares of the medical research company's stock after selling 938 shares during the period. Stock Yards Bank & Trust Co.'s holdings in Thermo Fisher Scientific were worth $1,477,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in TMO. LaFleur & Godfrey LLC increased its position in Thermo Fisher Scientific by 9.1% during the 4th quarter. LaFleur & Godfrey LLC now owns 29,767 shares of the medical research company's stock valued at $15,486,000 after buying an additional 2,488 shares in the last quarter. Brighton Jones LLC increased its position in 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 valued at $2,293,000 after buying an additional 988 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in Thermo Fisher Scientific during the 4th quarter valued at approximately $71,877,000. Revolve Wealth Partners LLC increased its position in 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 valued at $255,000 after buying an additional 20 shares in the last quarter. Finally, Root Financial Partners LLC bought a new position in Thermo Fisher Scientific during the 4th quarter valued at approximately $251,000. Institutional investors own 89.23% of the company's stock.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president now owns 23,167 shares of the company's stock, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on TMO. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Stifel Nicolaus cut their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Citigroup cut their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a report on Tuesday, March 4th. Wells Fargo & Company cut 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 report on Thursday, April 24th. Finally, Evercore ISI decreased their target price on 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. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $605.30.

Thermo Fisher Scientific Trading Down 3.2%

NYSE TMO traded down $13.21 during trading hours on Friday, hitting $402.12. 2,384,678 shares of the company were exchanged, compared to its average volume of 1,931,788. The stock has a 50-day moving average price of $416.80 and a 200 day moving average price of $492.19. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a 52 week low of $390.50 and a 52 week high of $627.88. The stock has a market cap of $151.80 billion, a PE ratio of 24.33, a price-to-earnings-growth ratio of 2.99 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating analysts' consensus estimates of $5.10 by $0.05. The firm had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The company's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $5.11 earnings per share. Analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.43%. Thermo Fisher Scientific's dividend payout ratio is 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.