Cim Investment Mangement Inc. cut its stake in shares of Thermo Fisher Scientific Inc (NYSE:TMO) by 8.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 4,020 shares of the medical research company’s stock after selling 348 shares during the period. Cim Investment Mangement Inc.’s holdings in Thermo Fisher Scientific were worth $617,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BB&T Securities LLC boosted its position in Thermo Fisher Scientific by 4.4% in the first quarter. BB&T Securities LLC now owns 89,837 shares of the medical research company’s stock valued at $13,798,000 after buying an additional 3,819 shares in the last quarter. Toronto Dominion Bank raised its position in shares of Thermo Fisher Scientific by 53.5% in the first quarter. Toronto Dominion Bank now owns 107,099 shares of the medical research company’s stock worth $16,450,000 after buying an additional 37,307 shares during the last quarter. Tompkins Financial Corp raised its position in shares of Thermo Fisher Scientific by 0.8% in the first quarter. Tompkins Financial Corp now owns 5,183 shares of the medical research company’s stock worth $733,000 after buying an additional 40 shares during the last quarter. Huntington National Bank raised its position in shares of Thermo Fisher Scientific by 6.9% in the first quarter. Huntington National Bank now owns 186,907 shares of the medical research company’s stock worth $28,708,000 after buying an additional 12,025 shares during the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Thermo Fisher Scientific by 1.1% in the first quarter. Advisors Asset Management Inc. now owns 66,308 shares of the medical research company’s stock worth $10,185,000 after buying an additional 735 shares during the last quarter. 87.15% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Inc (NYSE:TMO) traded down 1.091% during mid-day trading on Tuesday, hitting $175.415. 98,887 shares of the company traded hands. Thermo Fisher Scientific Inc has a one year low of $139.07 and a one year high of $182.87. The firm has a 50 day moving average of $176.88 and a 200 day moving average of $164.14. The firm has a market capitalization of $68.41 billion, a P/E ratio of 30.560 and a beta of 1.06.

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

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

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TMO has been the topic of a number of analyst reports. Leerink Swann set a $187.00 target price on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research report on Thursday, April 27th. Barclays PLC set a $175.00 target price on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research report on Wednesday, April 26th. BTIG Research increased their target price on shares of Thermo Fisher Scientific from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Deutsche Bank AG increased their target price on shares of Thermo Fisher Scientific from $163.00 to $188.00 and gave the stock a “buy” rating in a research report on Friday, April 28th. Finally, Jefferies Group LLC increased their target price on shares of Thermo Fisher Scientific from $160.00 to $175.00 and gave the stock a “hold” rating in a research report on Friday, April 28th. One equities research analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $188.56.

In related news, CFO Stephen Williamson sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The shares were sold at an average price of $176.26, for a total transaction of $440,650.00. Following the sale, the chief financial officer now owns 37,790 shares of the company’s stock, valued at approximately $6,660,865.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Daniel P. Shine sold 4,688 shares of the company’s 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 sale, the insider now directly owns 29,200 shares in the company, valued at approximately $5,018,896. The disclosure for this sale can be found here. Insiders have sold a total of 27,188 shares of company stock worth $4,702,223 in the last ninety days. 0.49% of the stock is currently owned by 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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