Riverview Trust Co Raises Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Riverview Trust Co raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 113.8% during the first quarter, HoldingsChannel reports. The firm owned 139 shares of the medical research company’s stock after buying an additional 74 shares during the quarter. Riverview Trust Co’s holdings in Thermo Fisher Scientific were worth $69,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in TMO. Bernard Wealth Management Corp. purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $25,000. Barrett & Company Inc. purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $28,000. FPC Investment Advisory Inc. purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $28,000. Pillar Financial Advisors LLC purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $29,000. Finally, Ameriflex Group Inc. purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $30,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reduced their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Stifel Nicolaus reduced their price objective on Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. UBS Group reduced their price objective on Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Evercore ISI reduced their price objective on Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Finally, Robert W. Baird reduced their price objective on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus price target of $605.30.

Insider Buying and Selling

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the transaction, the senior vice president now owns 10,816 shares in the company, valued at approximately $5,759,736.32. This trade represents a 25.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 transaction, the executive vice president now owns 23,167 shares of the company’s stock, valued at $9,960,188.31. The trade was a 1.28% decrease in their position. The disclosure for this sale can be found here. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Down 1.4%

Thermo Fisher Scientific stock opened at $397.88 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The stock has a market capitalization of $150.20 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 2.99 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1-year low of $390.50 and a 1-year high of $627.88. The business has a fifty day moving average price of $422.35 and a 200-day moving average price of $496.67.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping 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 return on equity of 17.51% and a net margin of 14.78%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the firm earned $5.11 EPS. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

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.