Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Sanibel Captiva Trust Company Inc.

Sanibel Captiva Trust Company Inc. reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 19.1% in the first quarter, HoldingsChannel.com reports. The fund owned 1,565 shares of the medical research company’s stock after selling 370 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Thermo Fisher Scientific were worth $779,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Ameliora Wealth Management Ltd. boosted its position in shares of Thermo Fisher Scientific by 6.5% during the first quarter. Ameliora Wealth Management Ltd. now owns 558 shares of the medical research company’s stock worth $278,000 after buying an additional 34 shares during the period. Simplicity Wealth LLC boosted its position in shares of Thermo Fisher Scientific by 26.7% during the first quarter. Simplicity Wealth LLC now owns 1,452 shares of the medical research company’s stock worth $723,000 after buying an additional 306 shares during the period. GAMMA Investing LLC boosted its position in shares of Thermo Fisher Scientific by 22.0% during the first quarter. GAMMA Investing LLC now owns 4,862 shares of the medical research company’s stock worth $2,419,000 after buying an additional 877 shares during the period. Octavia Wealth Advisors LLC boosted its position in shares of Thermo Fisher Scientific by 11.1% during the first quarter. Octavia Wealth Advisors LLC now owns 481 shares of the medical research company’s stock worth $240,000 after buying an additional 48 shares during the period. Finally, Tounjian Advisory Partners LLC acquired a new position in shares of Thermo Fisher Scientific during the first quarter worth approximately $3,636,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $415.25 on Thursday. The business’s fifty day moving average is $417.57 and its two-hundred day moving average is $493.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a 1 year low of $390.50 and a 1 year high of $627.88. The stock has a market capitalization of $156.76 billion, a P/E ratio of 25.12, a P/E/G ratio of 2.99 and a beta of 0.78.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be issued 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 dividend yield of 0.41%. Thermo Fisher Scientific’s payout ratio is currently 10.09%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on TMO. Barclays dropped their target price 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. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st. The Goldman Sachs Group set a $610.00 target price on Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Wednesday, April 23rd. 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. Finally, Evercore ISI dropped their target price 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. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.