Patton Albertson Miller Group LLC Has $5.45 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Patton Albertson Miller Group LLC lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 24.1% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,958 shares of the medical research company’s stock after selling 3,488 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Thermo Fisher Scientific were worth $5,453,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in Thermo Fisher Scientific by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company’s stock worth $17,297,426,000 after purchasing an additional 196,864 shares in the last quarter. Capital World Investors grew its position in Thermo Fisher Scientific by 1.1% during the fourth quarter. Capital World Investors now owns 9,430,120 shares of the medical research company’s stock worth $4,905,812,000 after buying an additional 104,343 shares in the last quarter. Geode Capital Management LLC grew its position in Thermo Fisher Scientific by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company’s stock worth $4,075,540,000 after buying an additional 197,442 shares in the last quarter. Norges Bank acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $3,149,754,000. Finally, Northern Trust Corp grew its position in Thermo Fisher Scientific by 13.2% during the fourth quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company’s stock worth $2,034,107,000 after buying an additional 455,004 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 2.2%

Shares of NYSE TMO opened at $425.28 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.38 and a current ratio of 1.77. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88. The firm has a 50 day moving average price of $410.13 and a two-hundred day moving average price of $473.73. The stock has a market cap of $160.54 billion, a P/E ratio of 24.94, a price-to-earnings-growth ratio of 2.21 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 15.19% and a return on equity of 17.15%. The firm had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.23 billion. During the same period in the prior year, the company posted $5.11 EPS. The company’s revenue was up .2% on a year-over-year basis. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid 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 of this dividend is Monday, September 15th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.09%.

Insider Activity at Thermo Fisher Scientific

In other 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 sale, the executive vice president directly owned 23,167 shares of the company’s stock, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

TMO has been the subject of several analyst reports. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Wednesday, May 21st. Stifel Nicolaus dropped their target price on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Barclays dropped their target price on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 24th. Finally, Argus dropped their target price 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. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $599.30.

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.