Nvest Financial LLC Cuts Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Nvest Financial LLC cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,511 shares of the medical research company’s stock after selling 31 shares during the quarter. Nvest Financial LLC’s holdings in Thermo Fisher Scientific were worth $1,459,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in TMO. Norges Bank bought a new stake in Thermo Fisher Scientific in the fourth quarter worth about $2,909,524,000. International Assets Investment Management LLC raised its position in Thermo Fisher Scientific by 61,995.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock worth $535,923,000 after acquiring an additional 1,008,045 shares during the period. Veritas Asset Management LLP raised its position in shares of Thermo Fisher Scientific by 70.1% in the fourth quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after purchasing an additional 697,383 shares during the period. Winslow Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $333,786,000. Finally, Clearbridge Investments LLC raised its position in shares of Thermo Fisher Scientific by 33.1% in the fourth quarter. Clearbridge Investments LLC now owns 2,228,730 shares of the medical research company’s stock valued at $1,182,987,000 after purchasing an additional 553,695 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 1.4 %

Shares of Thermo Fisher Scientific stock traded down $7.79 during trading on Tuesday, reaching $533.93. The company’s stock had a trading volume of 1,315,042 shares, compared to its average volume of 1,549,184. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $603.82. The company has a market cap of $203.81 billion, a price-to-earnings ratio of 34.32, a PEG ratio of 2.58 and a beta of 0.77. The firm’s 50-day moving average is $574.71 and its two-hundred day moving average is $563.50. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The company had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.65 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $1.56 annualized dividend and a yield of 0.29%. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Wall Street Analysts Forecast Growth

TMO has been the topic of several research reports. JPMorgan Chase & Co. boosted their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. HSBC boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Citigroup assumed coverage on shares of Thermo Fisher Scientific in a report on Monday, March 18th. They set a “neutral” rating and a $620.00 target price on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $606.47.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $70,873,516.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total value of $5,724,100.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $70,873,516.56. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated Friday, April 26th. The shares were 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 in the company, valued at $7,430,359.02. The disclosure for this sale can be found here. Insiders sold 22,000 shares of company stock valued at $12,532,780 in the last quarter. Company insiders own 0.34% of the company’s stock.

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.