Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 11.5% in the 1st quarter, HoldingsChannel reports. The firm owned 7,000 shares of the medical research company’s stock after selling 908 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Thermo Fisher Scientific were worth $3,501,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bernard Wealth Management Corp. acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $25,000. Ameriflex Group Inc. acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $30,000. IMA Advisory Services Inc. acquired a new position in shares of Thermo Fisher Scientific during the 1st quarter worth about $35,000. Navigoe LLC acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Thermo Fisher Scientific during the 1st quarter worth about $37,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 1.1%

Shares of TMO opened at $462.74 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.50 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $174.68 billion, a P/E ratio of 26.76, a price-to-earnings-growth ratio of 2.47 and a beta of 0.74. The stock’s fifty day simple moving average is $420.88 and its 200 day simple moving average is $467.07. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, beating the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The company had revenue of $10.86 billion for the quarter, compared to analyst estimates of $10.68 billion. During the same period last year, the company posted $5.37 earnings per share. The firm’s revenue was up 2.9% compared to the same quarter last year. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific’s payout ratio is presently 9.95%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on TMO shares. UBS Group boosted their target price on Thermo Fisher Scientific from $460.00 to $500.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Wall Street Zen raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday. Wells Fargo & Company reduced their target price on Thermo Fisher Scientific from $570.00 to $565.00 and set an “overweight” rating for the company in a report on Thursday, July 24th. Hsbc Global Res downgraded Thermo Fisher Scientific from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 24th. Finally, Robert W. Baird boosted their target price on Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an “outperform” rating in a report on Thursday, July 24th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $593.00.

Insider Activity

In other news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $479.98, for a total transaction of $191,992.00. Following the sale, the executive vice president directly owned 22,367 shares of the company’s stock, valued at approximately $10,735,712.66. The trade was a 1.76% 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 hyperlink. 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.