Alterity Financial Group LLC Trims Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Alterity Financial Group LLC lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.4% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,531 shares of the medical research company’s stock after selling 19 shares during the quarter. Thermo Fisher Scientific comprises about 3.4% of Alterity Financial Group LLC’s investment portfolio, making the stock its 5th biggest holding. Alterity Financial Group LLC’s holdings in Thermo Fisher Scientific were worth $2,405,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Bornite Capital Management LP lifted its stake in shares of Thermo Fisher Scientific by 50.0% in the 1st quarter. Bornite Capital Management LP now owns 30,000 shares of the medical research company’s stock valued at $17,719,000 after purchasing an additional 10,000 shares during the last quarter. Fairfield Bush & CO. lifted its holdings in Thermo Fisher Scientific by 1.2% during the 1st quarter. Fairfield Bush & CO. now owns 2,928 shares of the medical research company’s stock valued at $1,729,000 after buying an additional 36 shares in the last quarter. Loomis Sayles & Co. L P increased its position in Thermo Fisher Scientific by 563.5% during the 1st quarter. Loomis Sayles & Co. L P now owns 19,844 shares of the medical research company’s stock valued at $11,721,000 after purchasing an additional 16,853 shares during the period. Covestor Ltd raised its stake in Thermo Fisher Scientific by 60.5% in the first quarter. Covestor Ltd now owns 321 shares of the medical research company’s stock worth $190,000 after buying an additional 121 shares in the last quarter. Finally, Merit Financial Group LLC boosted its position in Thermo Fisher Scientific by 3.6% during the 1st quarter. Merit Financial Group LLC now owns 669 shares of the medical research company’s stock valued at $395,000 after acquiring an additional 23 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. TheStreet upgraded Thermo Fisher Scientific from a “c+” rating to a “b-” rating in a research note on Friday, December 22nd. Citigroup started coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They set a “neutral” rating and a $620.00 price objective for the company. Wolfe Research assumed coverage on shares of Thermo Fisher Scientific in a report on Wednesday, December 13th. They issued an “outperform” rating and a $575.00 price target on the stock. Sanford C. Bernstein reiterated a “market perform” rating on shares of Thermo Fisher Scientific in a report on Monday, January 8th. Finally, Barclays lowered Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $475.00 to $555.00 in a research report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $599.00.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the completion of the sale, the senior vice president now owns 12,901 shares of the company’s stock, valued at $7,250,362. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Michael A. Boxer sold 14,566 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the sale, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total value of $5,556,300.00. Following the completion of the transaction, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at $27,311,992.65. The disclosure for this sale can be found here. Insiders have sold a total of 50,277 shares of company stock valued at $28,513,384 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $581.21 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $603.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.75. The company’s fifty day moving average price is $565.13 and its 200 day moving average price is $520.22. The company has a market capitalization of $221.62 billion, a PE ratio of 37.62, a price-to-earnings-growth ratio of 2.43 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, January 31st. The medical research company reported $5.67 earnings per share for the quarter, beating the consensus estimate of $5.64 by $0.03. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The firm had revenue of $10.89 billion during the quarter, compared to analyst estimates of $10.73 billion. During the same quarter in the previous year, the business earned $5.40 EPS. Thermo Fisher Scientific’s revenue for the quarter was down 4.9% compared to the same quarter last year. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 21.52 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Friday, March 15th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.27%. The ex-dividend date is 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 presently 10.10%.

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.