Banque Pictet & Cie SA cut its stake in shares of Thermo Fisher Scientific Inc (NYSE:TMO) by 15.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 420,046 shares of the medical research company’s stock after selling 78,458 shares during the period. Thermo Fisher Scientific comprises approximately 1.6% of Banque Pictet & Cie SA’s holdings, making the stock its 20th largest position. Banque Pictet & Cie SA owned 0.11% of Thermo Fisher Scientific worth $64,519,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in TMO. Independent Portfolio Consultants Inc. raised its position in Thermo Fisher Scientific by 0.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 730 shares of the medical research company’s stock valued at $112,000 after buying an additional 2 shares in the last quarter. Sharkey Howes & Javer raised its position in Thermo Fisher Scientific by 1.0% in the first quarter. Sharkey Howes & Javer now owns 733 shares of the medical research company’s stock valued at $113,000 after buying an additional 7 shares in the last quarter. Penserra Capital Management LLC raised its position in Thermo Fisher Scientific by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,150 shares of the medical research company’s stock valued at $176,000 after buying an additional 100 shares in the last quarter. South Texas Money Management Ltd. purchased a new position in Thermo Fisher Scientific during the first quarter valued at $202,000. Finally, Wilbanks Smith & Thomas Asset Management LLC purchased a new position in Thermo Fisher Scientific during the first quarter valued at $208,000. 86.99% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Inc (TMO) traded up 0.34% during midday trading on Friday, reaching $176.33. The company’s stock had a trading volume of 752,054 shares. The firm has a market capitalization of $68.77 billion, a PE ratio of 30.72 and a beta of 1.06. Thermo Fisher Scientific Inc has a 52 week low of $139.07 and a 52 week high of $182.87. The stock has a 50 day moving average of $176.88 and a 200 day moving average of $164.14.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, July 26th. The medical research company reported $2.30 earnings per share 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 firm had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.92 billion. During the same quarter in the prior year, the company earned $2.03 EPS. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, equities research analysts predict that Thermo Fisher Scientific Inc will post $9.24 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Friday, September 15th will be paid 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 payout ratio is 10.45%.

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Several equities analysts have recently weighed in on TMO shares. Deutsche Bank AG lifted their price objective on Thermo Fisher Scientific from $163.00 to $188.00 and gave the company a “buy” rating in a research note on Friday, April 28th. BTIG Research raised their target price on Thermo Fisher Scientific from $180.00 to $190.00 and gave the company a “buy” rating in a report on Friday, April 28th. Barclays PLC set a $175.00 target price on Thermo Fisher Scientific and gave the company a “buy” rating in a report on Wednesday, April 26th. Leerink Swann set a $187.00 target price on Thermo Fisher Scientific and gave the company a “buy” rating in a report on Thursday, April 27th. Finally, Bank of America Corporation raised their target price on Thermo Fisher Scientific from $190.00 to $200.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. One equities research analyst has rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Thermo Fisher Scientific presently has an average rating of “Buy” and an average price target of $188.56.

In related news, insider Daniel P. Shine sold 4,688 shares of the stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $171.88, for a total transaction of $805,773.44. Following the completion of the sale, the insider now owns 29,200 shares in the company, valued at approximately $5,018,896. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 20,000 shares of the stock in a transaction that occurred on Thursday, June 1st. The shares were sold at an average price of $172.79, for a total value of $3,455,800.00. Following the sale, the chief executive officer now owns 269,279 shares of the company’s stock, valued at approximately $46,528,718.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,188 shares of company stock valued at $4,702,223. 0.49% of the stock is owned by corporate insiders.

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.

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

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