Norris Perne & French LLP MI Cuts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Norris Perne & French LLP MI decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,784 shares of the medical research company’s stock after selling 986 shares during the quarter. Thermo Fisher Scientific accounts for approximately 1.5% of Norris Perne & French LLP MI’s portfolio, making the stock its 22nd largest position. Norris Perne & French LLP MI’s holdings in Thermo Fisher Scientific were worth $20,798,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Northwest Financial Advisors bought a new stake in Thermo Fisher Scientific in the 4th quarter worth approximately $29,000. True Wealth Design LLC lifted its position in Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after buying an additional 51 shares during the last quarter. Pineridge Advisors LLC bought a new stake in Thermo Fisher Scientific in the 4th quarter worth approximately $39,000. Cape Investment Advisory Inc. lifted its position in Thermo Fisher Scientific by 52.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock worth $40,000 after buying an additional 26 shares during the last quarter. Finally, Raleigh Capital Management Inc. lifted its position in Thermo Fisher Scientific by 49.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock worth $41,000 after buying an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.4 %

TMO stock traded up $2.22 during midday trading on Friday, hitting $553.00. The stock had a trading volume of 6,150,885 shares, compared to its average volume of 1,473,906. The firm has a market cap of $211.09 billion, a price-to-earnings ratio of 35.45, a price-to-earnings-growth ratio of 2.57 and a beta of 0.79. The business has a 50-day moving average of $574.84 and a two-hundred day moving average of $562.59. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $603.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.33.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, topping the consensus estimate of $4.70 by $0.41. The company had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.65 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 14th will be paid a $0.39 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value of $5,672,800.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,430,359.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total value of $5,672,800.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $70,238,340.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 22,000 shares of company stock valued at $12,532,780. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TMO shares. Barclays dropped their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. The Goldman Sachs Group boosted their price objective on Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. HSBC boosted their price objective on Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, Evercore ISI boosted their price objective on Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $607.06.

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.