Ameriprise Financial Inc. cut its stake in Thermo Fisher Scientific Inc (NYSE:TMO) by 2.2% during the first quarter, Holdings Channel reports. The firm owned 2,713,154 shares of the medical research company’s stock after selling 61,436 shares during the period. Ameriprise Financial Inc.’s holdings in Thermo Fisher Scientific were worth $416,714,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in TMO. Boston Family Office LLC boosted its position in shares of Thermo Fisher Scientific by 5.9% in the first quarter. Boston Family Office LLC now owns 19,980 shares of the medical research company’s stock valued at $3,069,000 after buying an additional 1,115 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Thermo Fisher Scientific by 27.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 28,959 shares of the medical research company’s stock valued at $4,448,000 after buying an additional 6,314 shares during the period. Peddock Capital Advisors LLC boosted its position in shares of Thermo Fisher Scientific by 3.9% in the first quarter. Peddock Capital Advisors LLC now owns 7,609 shares of the medical research company’s stock valued at $1,169,000 after buying an additional 287 shares during the period. Commerce Bank boosted its position in shares of Thermo Fisher Scientific by 2.8% in the first quarter. Commerce Bank now owns 216,598 shares of the medical research company’s stock valued at $33,270,000 after buying an additional 5,897 shares during the period. Finally, First Personal Financial Services boosted its position in shares of Thermo Fisher Scientific by 1.4% in the first quarter. First Personal Financial Services now owns 22,647 shares of the medical research company’s stock valued at $3,479,000 after buying an additional 304 shares during the period. 86.94% of the stock is currently owned by institutional investors.
Shares of Thermo Fisher Scientific Inc (NYSE TMO) opened at 174.44 on Friday. Thermo Fisher Scientific Inc has a 12 month low of $139.07 and a 12 month high of $176.92. The company has a market cap of $68.24 billion, a PE ratio of 31.82 and a beta of 1.05. The firm’s 50-day moving average price is $172.96 and its 200 day moving average price is $157.13.
Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, April 26th. The medical research company reported $2.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.06. The business had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.68 billion. Thermo Fisher Scientific had a net margin of 11.58% and a return on equity of 15.73%. The company’s quarterly revenue was up 10.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.80 earnings per share. Equities research analysts anticipate that Thermo Fisher Scientific Inc will post $9.22 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Shareholders of record on Thursday, June 15th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Tuesday, June 13th. This represents a $0.60 annualized dividend and a dividend yield of 0.34%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.95%.
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Several brokerages recently issued reports on TMO. Deutsche Bank AG set a $200.00 price objective on Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Saturday, June 10th. Cantor Fitzgerald began coverage on Thermo Fisher Scientific in a research note on Thursday, May 18th. They issued an “overweight” rating and a $194.00 price objective on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $175.00 price objective on shares of Thermo Fisher Scientific in a research note on Wednesday, May 17th. Barclays PLC reissued an “overweight” rating and issued a $190.00 price objective (up previously from $175.00) on shares of Thermo Fisher Scientific in a research note on Tuesday, May 9th. Finally, Bank of America Corporation increased their price objective on Thermo Fisher Scientific from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Three analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $183.47.
In other Thermo Fisher Scientific news, insider Thomas W. Loewald sold 1,532 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $168.76, for a total value of $258,540.32. Following the completion of the transaction, the insider now owns 41,277 shares in the company, valued at $6,965,906.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephen Williamson sold 2,500 shares of the business’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $176.26, for a total transaction of $440,650.00. Following the completion of the transaction, the chief financial officer now owns 37,790 shares of the company’s stock, valued at approximately $6,660,865.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,720 shares of company stock valued at $4,960,764. Insiders own 0.49% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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