Avanza Fonder AB Cuts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Avanza Fonder AB lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,200 shares of the medical research company’s stock after selling 3,714 shares during the period. Avanza Fonder AB’s holdings in Thermo Fisher Scientific were worth $12,813,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Bernard Wealth Management Corp. purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $25,000. FPC Investment Advisory Inc. purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $28,000. Pillar Financial Advisors LLC bought a new stake in Thermo Fisher Scientific during the fourth quarter valued at about $29,000. Ameriflex Group Inc. bought a new stake in Thermo Fisher Scientific during the fourth quarter valued at about $30,000. Finally, Noble Wealth Management PBC bought a new stake in Thermo Fisher Scientific during the fourth quarter valued at about $35,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $408.57 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The firm has a market capitalization of $154.23 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 2.99 and a beta of 0.78. Thermo Fisher Scientific Inc. has a fifty-two week low of $390.50 and a fifty-two week high of $627.88. The stock’s fifty day moving average is $419.12 and its two-hundred day moving average is $494.94.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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 the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.11 EPS. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.42%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.09%.

Insider Activity at Thermo Fisher Scientific

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. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Barclays dropped their price objective on Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 10th. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. Citigroup dropped their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 4th. The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Finally, Evercore ISI reduced their price objective on Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $605.30.

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.