Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,198 shares of the medical research company’s stock after selling 1,992 shares during the period. Thermo Fisher Scientific makes up approximately 0.9% of Parsons Capital Management Inc. RI’s holdings, making the stock its 21st biggest position. Parsons Capital Management Inc. RI’s holdings in Thermo Fisher Scientific were worth $17,017,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TMO. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $3,149,754,000. GAMMA Investing LLC increased its stake in Thermo Fisher Scientific by 60,610.9% in the 1st quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company’s stock valued at $1,203,859,000 after buying an additional 2,415,346 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in Thermo Fisher Scientific by 86.9% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company’s stock valued at $1,604,338,000 after buying an additional 1,433,444 shares during the period. Kovitz Investment Group Partners LLC increased its stake in Thermo Fisher Scientific by 1,905.4% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company’s stock valued at $469,889,000 after buying an additional 858,193 shares during the period. Finally, Proficio Capital Partners LLC increased its stake in shares of Thermo Fisher Scientific by 68,617.0% during the 4th quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company’s stock worth $396,810,000 after purchasing an additional 761,649 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president now owns 23,167 shares in the company, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.7%

Shares of Thermo Fisher Scientific stock opened at $408.57 on Tuesday. The stock has a market capitalization of $154.23 billion, a P/E ratio of 24.72, a price-to-earnings-growth ratio of 2.99 and a beta of 0.78. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The company has a 50-day simple moving average of $419.12 and a 200 day simple moving average of $494.94. Thermo Fisher Scientific Inc. has a 12-month low of $390.50 and a 12-month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.10 by $0.05. The business had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the company posted $5.11 EPS. Research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be given a $0.43 dividend. This represents a $1.72 annualized dividend and a yield of 0.42%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific’s payout ratio is presently 10.09%.

Analysts Set New Price Targets

Several research analysts have recently commented on TMO shares. Evercore ISI dropped their price target on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. UBS Group decreased their target price on Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Barclays reduced their price objective on Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating for the company in a research report on Thursday, April 10th. Scotiabank reduced their price target on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a “sector perform” rating for the company in a report on Friday, April 25th. Finally, Royal Bank of Canada reduced their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $605.30.

About Thermo Fisher Scientific

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.