Legacy Trust Sells 50 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Legacy Trust lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.4% in the 1st quarter, HoldingsChannel reports. The firm owned 3,401 shares of the medical research company’s stock after selling 50 shares during the quarter. Legacy Trust’s holdings in Thermo Fisher Scientific were worth $1,692,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $25,000. FPC Investment Advisory Inc. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $28,000. Pillar Financial Advisors LLC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $29,000. Ameriflex Group Inc. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $30,000. Finally, Noble Wealth Management PBC bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $35,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

TMO has been the subject of a number of recent research reports. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. Wells Fargo & Company dropped their price objective on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Citigroup dropped their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Finally, Argus dropped their price objective 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. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price of $605.30.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the sale, the executive vice president now directly owns 23,167 shares in the company, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $414.85 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $156.60 billion, a P/E ratio of 25.10, a PEG ratio of 2.99 and a beta of 0.78. The stock’s 50 day moving average is $417.11 and its 200 day moving average is $493.15. Thermo Fisher Scientific Inc. has a twelve month low of $390.50 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, topping the consensus estimate of $5.10 by $0.05. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.11 EPS. On average, equities research analysts predict 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. Shareholders of record on Friday, June 13th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $1.72 annualized dividend and a yield of 0.41%. Thermo Fisher Scientific’s dividend payout ratio is 10.09%.

Thermo Fisher Scientific 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.