WASHINGTON TRUST Co Lowers Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

WASHINGTON TRUST Co lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,982 shares of the medical research company's stock after selling 2,405 shares during the quarter. Thermo Fisher Scientific accounts for approximately 1.8% of WASHINGTON TRUST Co's investment portfolio, making the stock its 14th biggest holding. WASHINGTON TRUST Co's holdings in Thermo Fisher Scientific were worth $47,761,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TMO. Norges Bank acquired a new position in Thermo Fisher Scientific during the fourth quarter worth approximately $3,149,754,000. GAMMA Investing LLC lifted its holdings in Thermo Fisher Scientific by 60,610.9% during the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock worth $1,203,859,000 after purchasing an additional 2,415,346 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock valued at $1,604,338,000 after purchasing an additional 1,433,444 shares during the period. Kovitz Investment Group Partners LLC increased its position in Thermo Fisher Scientific by 1,905.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock worth $469,889,000 after buying an additional 858,193 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in Thermo Fisher Scientific in the 4th quarter worth about $377,901,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on TMO shares. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Scotiabank decreased their target price on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a "sector perform" rating on the stock in a research note on Friday, April 25th. UBS Group lowered their target price on Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Barclays reduced their price target on Thermo Fisher Scientific from $475.00 to $450.00 and set an "equal weight" rating on the stock in a report on Tuesday, June 24th. Finally, 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. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $604.05.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the business'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 completion of the sale, the executive vice president owned 23,167 shares in the company, valued at $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Trading Up 3.9%

Shares of TMO stock traded up $15.89 during mid-day trading on Tuesday, hitting $421.35. The company's stock had a trading volume of 2,603,007 shares, compared to its average volume of 1,964,289. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77. The company's fifty day simple moving average is $409.41 and its 200-day simple moving average is $482.09. The company has a market cap of $159.06 billion, a PE ratio of 24.71, a P/E/G ratio of 2.16 and a beta of 0.77.

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 the consensus estimate of $5.10 by $0.05. The firm 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 revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.11 earnings per share. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal 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 paid a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.41%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 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.