Sumitomo Life Insurance Co. Has $11.91 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sumitomo Life Insurance Co. raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 23.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 23,930 shares of the medical research company’s stock after acquiring an additional 4,499 shares during the quarter. Thermo Fisher Scientific makes up about 0.4% of Sumitomo Life Insurance Co.’s portfolio, making the stock its 29th largest holding. Sumitomo Life Insurance Co.’s holdings in Thermo Fisher Scientific were worth $11,908,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. One Charles Private Wealth Services LLC boosted its holdings in shares of Thermo Fisher Scientific by 4.2% during the 4th 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 grew its holdings in 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 purchasing an additional 20 shares during the period. Holderness Investments Co. increased its stake in 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 valued at $664,000 after purchasing an additional 21 shares in the last quarter. Port Capital LLC boosted its position in shares of Thermo Fisher Scientific by 1.6% during the 4th quarter. Port Capital LLC now owns 1,385 shares of the medical research company’s stock worth $721,000 after purchasing an additional 22 shares in the last quarter. Finally, Clark Capital Management Group Inc. grew its stake in shares of Thermo Fisher Scientific by 0.5% in the 4th quarter. Clark Capital Management Group Inc. now owns 4,445 shares of the medical research company’s stock valued at $2,312,000 after buying an additional 23 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on TMO. The Goldman Sachs Group set a $610.00 price target on Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Wednesday, April 23rd. Argus reduced their price target on shares of 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. UBS Group downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $500.00 to $460.00 in a report on Tuesday, July 8th. Royal Bank Of Canada reduced their price objective on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. Finally, Stifel Nicolaus dropped their price target on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $600.30.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated 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 owned 23,167 shares of the company’s stock, valued at $9,960,188.31. The trade was a 1.28% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.0%

Shares of TMO stock opened at $435.02 on Monday. The company has a 50 day moving average of $409.39 and a 200-day moving average of $475.87. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $627.88. The firm has a market cap of $164.22 billion, a P/E ratio of 25.51, a PEG ratio of 2.31 and a beta of 0.77. 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, beating analysts’ consensus estimates of $5.10 by $0.05. The business had revenue of $10.36 billion for 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%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $5.11 EPS. Sell-side analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific’s payout ratio is currently 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.