Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Eagle Ridge Investment Management

Eagle Ridge Investment Management lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 25.6% during the 4th quarter, HoldingsChannel reports. The firm owned 897 shares of the medical research company’s stock after selling 309 shares during the period. Eagle Ridge Investment Management’s holdings in Thermo Fisher Scientific were worth $476,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in Thermo Fisher Scientific by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 32,760,738 shares of the medical research company’s stock valued at $16,582,503,000 after buying an additional 180,618 shares during the period. Morgan Stanley raised its holdings in Thermo Fisher Scientific by 0.4% in the 3rd quarter. Morgan Stanley now owns 12,418,429 shares of the medical research company’s stock valued at $6,285,838,000 after buying an additional 50,736 shares during the period. Northern Trust Corp raised its holdings in Thermo Fisher Scientific by 2.6% in the 3rd 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 period. Wellington Management Group LLP raised its holdings in Thermo Fisher Scientific by 9.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,080,687 shares of the medical research company’s stock valued at $1,559,351,000 after buying an additional 274,464 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Thermo Fisher Scientific by 0.4% during the third 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 buying an additional 8,672 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO traded up $3.24 during mid-day trading on Monday, hitting $576.84. The stock had a trading volume of 587,758 shares, compared to its average volume of 1,548,821. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $603.82. The company has a market cap of $220.19 billion, a PE ratio of 36.82, a PEG ratio of 2.41 and a beta of 0.80. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $573.60 and its two-hundred day simple moving average is $530.40.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The business had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.56 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Thursday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s payout ratio is 10.01%.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 5,547 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $550.62, for a total value of $3,054,289.14. Following the sale, the chief executive officer now directly owns 43,608 shares in the company, valued at $24,011,436.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 50,277 shares of company stock worth $28,513,384. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TMO shares. Evercore ISI upped their price target on Thermo Fisher Scientific from $575.00 to $610.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Deutsche Bank Aktiengesellschaft upped their price target on Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a report on Thursday. Royal Bank of Canada upped their price target on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Robert W. Baird decreased their price objective on Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday. Finally, Sanford C. Bernstein reissued a “market perform” rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $606.76.

Thermo Fisher Scientific Company 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.