Perigon Wealth Management LLC Decreases Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Perigon Wealth Management LLC trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 29,399 shares of the medical research company’s stock after selling 503 shares during the quarter. Perigon Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $14,629,000 at the end of the most recent reporting period.

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

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on 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 transaction, the executive vice president now owns 23,167 shares in the company, valued at $9,960,188.31. The trade was a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $410.45 on Thursday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. The stock has a market cap of $154.94 billion, a PE ratio of 24.07, a P/E/G ratio of 2.13 and a beta of 0.78. The firm has a 50-day simple moving average of $410.39 and a two-hundred day simple moving average of $485.33. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. The firm 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 15.19% and a return on equity of 17.15%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.11 earnings per share. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.42%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.09%.

Analyst Ratings Changes

TMO has been the topic of several research reports. Barclays decreased their price target on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Citigroup reduced their target price on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Royal Bank Of Canada reduced their target price on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Argus reduced their target price on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Finally, Evercore ISI reduced their target price 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. Four investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $604.05.

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.