Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Legacy Capital Wealth Partners LLC

Legacy Capital Wealth Partners LLC trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 26.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,209 shares of the medical research company’s stock after selling 433 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Thermo Fisher Scientific were worth $602,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. One Charles Private Wealth Services LLC boosted its holdings in 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 valued at $260,000 after acquiring an additional 20 shares during the last quarter. Revolve Wealth Partners LLC boosted 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 valued at $255,000 after acquiring an additional 20 shares during the last quarter. Holderness Investments Co. boosted its holdings 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 acquiring an additional 21 shares during the last quarter. Port Capital LLC lifted its stake in shares of Thermo Fisher Scientific by 1.6% during the fourth 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. lifted its stake in shares of Thermo Fisher Scientific by 0.5% during 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 purchasing an additional 23 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have commented on TMO. UBS Group cut Thermo Fisher Scientific from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $500.00 to $460.00 in a research note on Tuesday, July 8th. Argus cut their price target on 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. Royal Bank Of Canada cut their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Barclays cut their price target on Thermo Fisher Scientific from $475.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 24th. Finally, Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $600.30.

Thermo Fisher Scientific Stock Down 0.4%

NYSE:TMO opened at $416.42 on Thursday. The company has a current ratio of 1.77, a quick ratio of 1.38 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average of $409.84 and a 200-day moving average of $474.37. The firm has a market capitalization of $157.19 billion, a PE ratio of 24.42, a price-to-earnings-growth ratio of 2.22 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued 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. The business had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $5.11 earnings per share. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a dividend of $0.43 per share. The ex-dividend date is Monday, September 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.41%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.09%.

Insider Activity

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

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.