Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Summit Global Investments

Summit Global Investments trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 1,353 shares of the medical research company’s stock after selling 39 shares during the period. Summit Global Investments’ holdings in Thermo Fisher Scientific were worth $718,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Thermo Fisher Scientific by 0.6% during the third quarter. Vanguard Group Inc. now owns 32,760,738 shares of the medical research company’s stock valued at $16,582,503,000 after purchasing an additional 180,618 shares during the last quarter. Morgan Stanley increased its position in Thermo Fisher Scientific by 0.4% in the third quarter. Morgan Stanley now owns 12,418,429 shares of the medical research company’s stock worth $6,285,838,000 after buying an additional 50,736 shares during the period. Northern Trust Corp lifted its stake in Thermo Fisher Scientific by 2.6% in the third quarter. Northern Trust Corp now owns 3,929,225 shares of the medical research company’s stock valued at $1,988,856,000 after buying an additional 99,377 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Thermo Fisher Scientific by 9.8% during the third quarter. Wellington Management Group LLP now owns 3,080,687 shares of the medical research company’s stock worth $1,559,351,000 after acquiring an additional 274,464 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Thermo Fisher Scientific by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,184,928 shares of the medical research company’s stock worth $1,105,945,000 after acquiring an additional 8,672 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total value of $5,556,300.00. Following the transaction, the chief executive officer now owns 49,155 shares in the company, valued at approximately $27,311,992.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the transaction, the chief executive officer now directly owns 49,155 shares in the company, valued at approximately $27,311,992.65. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 14,566 shares of the company’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the transaction, the senior vice president now directly owns 12,901 shares in the company, valued at $7,250,362. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 62,277 shares of company stock worth $35,373,364. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TMO shares. HSBC raised 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 note on Tuesday, April 30th. Royal Bank of Canada boosted their price target on Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an “outperform” rating in a research report on Thursday, February 1st. Barclays raised their target price on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. upped their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, April 25th. Finally, Evercore ISI boosted their target price on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $607.35.

Thermo Fisher Scientific Trading Up 0.2 %

Shares of NYSE TMO opened at $572.38 on Friday. The business has a fifty day simple moving average of $575.39 and a 200-day simple moving average of $532.82. The company has a market cap of $218.48 billion, a price-to-earnings ratio of 36.71, a P/E/G ratio of 2.37 and a beta of 0.80. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $603.82. 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 earnings results on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. The company had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.64 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Thursday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

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.