Thermo Fisher Scientific Inc (NYSE:TMO) Stake Lowered by Prudential Financial Inc.

Prudential Financial Inc. reduced its position in shares of Thermo Fisher Scientific Inc (NYSE:TMO) by 23.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 834,907 shares of the medical research company’s stock after selling 259,024 shares during the period. Prudential Financial Inc. owned 0.21% of Thermo Fisher Scientific worth $128,242,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. YHB Investment Advisors Inc. raised its position in shares of Thermo Fisher Scientific by 0.8% in the first quarter. YHB Investment Advisors Inc. now owns 98,744 shares of the medical research company’s stock worth $16,325,000 after buying an additional 760 shares during the period. Quantbot Technologies LP raised its position in shares of Thermo Fisher Scientific by 231.0% in the first quarter. Quantbot Technologies LP now owns 105,792 shares of the medical research company’s stock worth $16,249,000 after buying an additional 73,830 shares during the period. Monetta Financial Services Inc. bought a new position in shares of Thermo Fisher Scientific during the first quarter worth approximately $2,150,000. McKinley Carter Wealth Services Inc. raised its position in shares of Thermo Fisher Scientific by 0.5% in the first quarter. McKinley Carter Wealth Services Inc. now owns 14,686 shares of the medical research company’s stock worth $2,256,000 after buying an additional 71 shares during the period. Finally, Meiji Yasuda Life Insurance Co raised its position in shares of Thermo Fisher Scientific by 46.4% in the first quarter. Meiji Yasuda Life Insurance Co now owns 23,156 shares of the medical research company’s stock worth $3,557,000 after buying an additional 7,340 shares during the period. 87.15% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Inc (NYSE TMO) traded down 1.89% during trading on Tuesday, reaching $173.99. 1,647,160 shares of the company’s stock traded hands. Thermo Fisher Scientific Inc has a 1-year low of $139.07 and a 1-year high of $182.87. The firm has a 50 day moving average of $177.02 and a 200 day moving average of $164.40. The firm has a market capitalization of $67.86 billion, a PE ratio of 30.31 and a beta of 1.06.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.30 EPS for the quarter, beating the consensus estimate of $2.27 by $0.03. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. The company had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter last year, the company posted $2.03 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. Equities analysts forecast that Thermo Fisher Scientific Inc will post $9.24 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 15th will be issued a dividend of $0.15 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.60 annualized dividend and a yield of 0.34%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.45%.

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A number of brokerages have recently commented on TMO. Deutsche Bank AG set a $200.00 target price on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research report on Saturday, June 10th. Jefferies Group LLC lifted their price objective on shares of Thermo Fisher Scientific from $160.00 to $175.00 and gave the company a “hold” rating in a report on Friday, April 28th. Wells Fargo & Company reissued an “outperform” rating and set a $200.00 price objective (up from $195.00) on shares of Thermo Fisher Scientific in a report on Thursday, July 13th. Cleveland Research raised shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating in a report on Thursday, July 20th. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $210.00 price target (up from $200.00) on shares of Thermo Fisher Scientific in a report on Friday, July 21st. One research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $188.56.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 20,000 shares of the firm’s stock in a transaction dated Thursday, June 1st. The stock was sold at an average price of $172.79, for a total transaction of $3,455,800.00. Following the transaction, the chief executive officer now owns 269,279 shares in the company, valued at $46,528,718.41. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Daniel P. Shine sold 4,688 shares of the firm’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $171.88, for a total value of $805,773.44. Following the transaction, the insider now owns 29,200 shares in the company, valued at approximately $5,018,896. The disclosure for this sale can be found here. In the last quarter, insiders have sold 27,188 shares of company stock worth $4,702,223. Corporate insiders own 0.49% of the company’s stock.

Thermo Fisher Scientific Company Profile

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.

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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