Washington Trust Advisors Inc. Lowers Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Washington Trust Advisors Inc. cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 39.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,667 shares of the medical research company's stock after selling 1,721 shares during the period. Washington Trust Advisors Inc.'s holdings in Thermo Fisher Scientific were worth $1,327,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in TMO. LifePlan Financial LLC purchased a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth approximately $352,000. Ameritas Advisory Services LLC increased its stake in Thermo Fisher Scientific by 3.5% in the first quarter. Ameritas Advisory Services LLC now owns 3,796 shares of the medical research company's stock worth $1,903,000 after purchasing an additional 127 shares during the period. Amalgamated Bank grew its position in shares of Thermo Fisher Scientific by 1.4% during the 1st quarter. Amalgamated Bank now owns 74,442 shares of the medical research company's stock worth $37,042,000 after buying an additional 995 shares in the last quarter. Verity Asset Management Inc. grew its position in shares of Thermo Fisher Scientific by 113.1% during the 1st quarter. Verity Asset Management Inc. now owns 1,040 shares of the medical research company's stock worth $518,000 after buying an additional 552 shares in the last quarter. Finally, Citizens National Bank Trust Department grew its position in shares of Thermo Fisher Scientific by 4.0% during the 1st quarter. Citizens National Bank Trust Department now owns 4,883 shares of the medical research company's stock worth $2,430,000 after buying an additional 188 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction dated Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Scotiabank dropped their price objective on Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating on the stock in a research report on Friday, April 25th. Barclays reduced their price target on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating for the company in a research report on Tuesday, June 24th. Argus reduced their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Wells Fargo & Company reduced their price target on 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. Finally, Robert W. Baird cut their price objective on Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a research report on Thursday, April 24th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $604.05.

Thermo Fisher Scientific Stock Down 1.1%

Shares of TMO opened at $407.67 on Monday. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88. The stock has a fifty day simple moving average of $409.74 and a two-hundred day simple moving average of $482.94. The company has a market capitalization of $153.89 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 2.17 and a beta of 0.78. The company has a quick ratio of 1.38, a current ratio of 1.77 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, beating the consensus estimate of $5.10 by $0.05. The business had revenue of $10.36 billion for the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The company's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.11 EPS. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued 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 0.42%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.09%.

Thermo Fisher Scientific 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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