Vestcor Inc trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 30.1% in the first quarter, according to its most recent filing with the SEC. The firm owned 8,216 shares of the medical research company's stock after selling 3,538 shares during the period. Vestcor Inc's holdings in Thermo Fisher Scientific were worth $4,088,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Cypress Advisory Group LLC acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $253,000. GAMMA Investing LLC increased its position in shares of Thermo Fisher Scientific by 22.0% during the 1st quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company's stock worth $2,419,000 after purchasing an additional 877 shares in the last quarter. Deutsche Bank AG increased its position in shares of Thermo Fisher Scientific by 9.5% during the 4th quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company's stock worth $687,553,000 after purchasing an additional 114,277 shares in the last quarter. Hancock Whitney Corp increased its position in shares of Thermo Fisher Scientific by 0.6% during the 4th quarter. Hancock Whitney Corp now owns 5,386 shares of the medical research company's stock worth $2,802,000 after purchasing an additional 30 shares in the last quarter. Finally, Cetera Trust Company N.A increased its position in shares of Thermo Fisher Scientific by 3.3% during the 1st quarter. Cetera Trust Company N.A now owns 4,646 shares of the medical research company's stock worth $2,312,000 after purchasing an additional 150 shares in the last quarter. 89.23% of the stock is owned by institutional investors.
Insider Activity at Thermo Fisher Scientific
In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the company's stock in a transaction on Friday, July 25th. The shares were sold at an average price of $479.98, for a total value of $191,992.00. Following the transaction, the executive vice president directly owned 22,367 shares in the company, valued at $10,735,712.66. The trade was a 1.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.33% of the stock is currently owned by corporate insiders.
Analyst Upgrades and Downgrades
Several research firms have weighed in on TMO. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Wells Fargo & Company lowered their price objective on shares of Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a research report on Thursday, July 24th. HSBC restated a "hold" rating and issued a $510.00 price objective on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Evercore ISI lowered their price objective on shares of Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating for the company in a research report on Tuesday, July 8th. Finally, Scotiabank upgraded shares of Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective for the company in a research report on Friday, July 11th. Six equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of "Moderate Buy" and an average price target of $593.00.
Get Our Latest Research Report on Thermo Fisher Scientific
Thermo Fisher Scientific Trading Down 1.1%
Thermo Fisher Scientific stock traded down $4.94 during midday trading on Friday, hitting $462.74. 2,756,840 shares of the stock were exchanged, compared to its average volume of 3,223,400. The company has a fifty day simple moving average of $420.88 and a two-hundred day simple moving average of $467.66. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88. The stock has a market capitalization of $174.68 billion, a PE ratio of 26.76, a P/E/G ratio of 2.50 and a beta of 0.74. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share 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 business had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same quarter last year, the firm earned $5.37 EPS. Thermo Fisher Scientific's quarterly revenue was up 2.9% compared to the same quarter last year. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.
Thermo Fisher Scientific Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.4%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific's payout ratio is currently 9.95%.
Thermo Fisher Scientific Profile
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Free Report)
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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