Massachusetts Financial Services Co. MA Sells 179,599 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Massachusetts Financial Services Co. MA cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.0% during the first quarter, Holdings Channel.com reports. The fund owned 2,396,032 shares of the medical research company’s stock after selling 179,599 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Thermo Fisher Scientific were worth $1,192,266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TMO. One Charles Private Wealth Services LLC lifted its position in shares of Thermo Fisher Scientific by 4.2% in the fourth quarter. One Charles Private Wealth Services LLC now owns 499 shares of the medical research company’s stock worth $260,000 after buying an additional 20 shares in the last quarter. Revolve Wealth Partners LLC lifted its position in shares of Thermo Fisher Scientific by 4.2% in the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after buying an additional 20 shares in the last quarter. Holderness Investments Co. lifted its position in shares of Thermo Fisher Scientific by 1.7% in the fourth quarter. Holderness Investments Co. now owns 1,277 shares of the medical research company’s stock worth $664,000 after buying an additional 21 shares in the last quarter. Port Capital LLC lifted its position in shares of Thermo Fisher Scientific by 1.6% in the fourth quarter. Port Capital LLC now owns 1,385 shares of the medical research company’s stock worth $721,000 after buying an additional 22 shares in the last quarter. Finally, Clark Capital Management Group Inc. lifted its position in shares of Thermo Fisher Scientific by 0.5% in the fourth quarter. Clark Capital Management Group Inc. now owns 4,445 shares of the medical research company’s stock worth $2,312,000 after buying an additional 23 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Up 1.0%

Shares of NYSE:TMO opened at $435.02 on Monday. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88. The stock has a market cap of $164.22 billion, a P/E ratio of 25.51, a price-to-earnings-growth ratio of 2.31 and a beta of 0.77. The business’s 50 day moving average is $409.39 and its 200 day moving average is $475.87. The company has a quick ratio of 1.38, a current ratio of 1.77 and a debt-to-equity ratio of 0.64.

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 (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The company had revenue of $10.36 billion for the quarter, compared to analysts’ expectations of $10.23 billion. During the same quarter in the prior year, the firm earned $5.11 earnings per share. Thermo Fisher Scientific’s revenue was up .2% compared to the same quarter last year. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 annualized dividend and a yield of 0.40%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.09%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TMO shares. Robert W. Baird decreased their price objective on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Wells Fargo & Company decreased their price objective on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. UBS Group downgraded Thermo Fisher Scientific from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $500.00 to $460.00 in a research report on Tuesday, July 8th. Barclays decreased their price objective on Thermo Fisher Scientific from $475.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 24th. Finally, Scotiabank upgraded Thermo Fisher Scientific from a “sector perform” rating to a “sector outperform” rating and set a $590.00 price objective on the stock in a research report on Friday. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $600.30.

Insider Transactions 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 owned 23,167 shares of the company’s stock, valued at approximately $9,960,188.31. This trade represents a 1.28% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.33% of the company’s stock.

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.