Thermo Fisher Scientific Inc. (NYSE:TMO) Position Reduced by First Merchants Corp

First Merchants Corp cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,004 shares of the medical research company’s stock after selling 30 shares during the quarter. First Merchants Corp’s holdings in Thermo Fisher Scientific were worth $997,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at about $3,149,754,000. GAMMA Investing LLC increased its holdings in Thermo Fisher Scientific by 60,610.9% in the first quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company’s stock worth $1,203,859,000 after buying an additional 2,415,346 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Thermo Fisher Scientific by 86.9% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company’s stock worth $1,604,338,000 after buying an additional 1,433,444 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in Thermo Fisher Scientific by 1,905.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company’s stock worth $469,889,000 after buying an additional 858,193 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Thermo Fisher Scientific in the fourth quarter worth approximately $377,901,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 completion of 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 trade represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of research reports. Robert W. Baird dropped 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. Evercore ISI dropped 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. Citigroup dropped their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. UBS Group dropped 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. Finally, Argus decreased their target price on Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating for the company in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $604.05.

Thermo Fisher Scientific Stock Down 1.1%

Shares of TMO stock opened at $407.67 on Friday. The stock has a market cap of $153.89 billion, a P/E ratio of 23.91, a price-to-earnings-growth ratio of 2.17 and a beta of 0.78. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $627.88. The stock has a fifty day moving average price of $409.74 and a 200 day moving average price of $483.58. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results 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 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 17.15% and a net margin of 15.19%. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business earned $5.11 earnings per share. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.42%. Thermo Fisher Scientific’s payout ratio is presently 10.09%.

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.