Pinion Investment Advisors LLC Sells 61 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Pinion Investment Advisors LLC trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,751 shares of the medical research company’s stock after selling 61 shares during the quarter. Pinion Investment Advisors LLC’s holdings in Thermo Fisher Scientific were worth $871,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Bernard Wealth Management Corp. acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at approximately $25,000. FPC Investment Advisory Inc. acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $28,000. Pillar Financial Advisors LLC acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $29,000. Ameriflex Group Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter worth $30,000. Finally, Noble Wealth Management PBC bought a new position in Thermo Fisher Scientific during the fourth quarter worth $35,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 3.2%

Shares of Thermo Fisher Scientific stock opened at $402.12 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $390.50 and a 1 year high of $627.88. The firm has a market cap of $151.80 billion, a PE ratio of 24.33, a PEG ratio of 2.99 and a beta of 0.78. 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 company has a 50 day simple moving average of $416.80 and a two-hundred day simple moving average of $492.19.

Thermo Fisher Scientific (NYSE:TMO) last announced 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 analyst estimates of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $5.11 EPS. Analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share 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. This represents a $1.72 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific’s payout ratio is 10.09%.

Insider Buying and Selling

In other Thermo Fisher Scientific 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 completion of the transaction, the executive vice president now directly owns 23,167 shares in the company, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.33% of the stock is owned by insiders.

Analyst Ratings Changes

TMO has been the topic of a number of recent research reports. Argus dropped their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a research note on Tuesday, April 29th. Wells Fargo & Company lowered their target price on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating for the company in a report on Thursday, April 24th. Citigroup decreased their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Evercore ISI decreased their price objective 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. Finally, The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $605.30.

About Thermo Fisher Scientific

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.