Sterling Investment Management LLC Has $2.21 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sterling Investment Management LLC reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 4,445 shares of the medical research company’s stock after selling 130 shares during the quarter. Thermo Fisher Scientific comprises approximately 1.6% of Sterling Investment Management LLC’s holdings, making the stock its 22nd biggest position. Sterling Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $2,212,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bernard Wealth Management Corp. bought a new stake in Thermo Fisher Scientific in the 4th quarter valued at $25,000. FPC Investment Advisory Inc. bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $28,000. Pillar Financial Advisors LLC bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $29,000. Ameriflex Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $30,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $35,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Price Performance

TMO stock opened at $415.25 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $156.76 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 2.99 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 12-month low of $390.50 and a 12-month high of $627.88. The firm’s 50-day moving average price is $417.57 and its two-hundred day moving average price is $493.84.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, topping the consensus estimate of $5.10 by $0.05. The business had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $5.11 earnings per share. As a group, equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company 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. The ex-dividend date is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a yield of 0.41%. Thermo Fisher Scientific’s payout ratio is currently 10.09%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the completion of the sale, the executive vice president now directly owns 23,167 shares of the company’s stock, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on TMO shares. Argus lowered their price target on Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Evercore ISI lowered their price target on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. UBS Group dropped their price target on Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Barclays cut their price target on Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating on the stock in a report on Thursday, April 10th. Finally, Robert W. Baird dropped their target price 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 equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $605.30.

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.