Jennison Associates LLC Lowers Stake in Thermo Fisher Scientific Inc (TMO)

Jennison Associates LLC lowered its position in Thermo Fisher Scientific Inc (NYSE:TMO) by 18.0% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 232,242 shares of the medical research company’s stock after selling 51,072 shares during the period. Jennison Associates LLC owned 0.06% of Thermo Fisher Scientific worth $35,672,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Independent Portfolio Consultants Inc. raised its position in Thermo Fisher Scientific by 0.3% in the first quarter. Independent Portfolio Consultants Inc. now owns 730 shares of the medical research company’s stock worth $112,000 after buying an additional 2 shares in the last quarter. First Command Bank purchased a new position in Thermo Fisher Scientific during the fourth quarter worth approximately $125,000. Advantage Investment Management LLC purchased a new position in Thermo Fisher Scientific during the fourth quarter worth approximately $125,000. Cable Hill Partners LLC raised its position in Thermo Fisher Scientific by 27.1% in the third quarter. Cable Hill Partners LLC now owns 961 shares of the medical research company’s stock worth $152,000 after buying an additional 205 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new position in Thermo Fisher Scientific during the fourth quarter worth approximately $176,000. Hedge funds and other institutional investors own 86.89% of the company’s stock.

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

Thermo Fisher Scientific Inc (TMO) traded up 0.42% on Friday, hitting $174.86. 1,944,695 shares of the stock traded hands. The stock has a market cap of $68.41 billion, a price-to-earnings ratio of 31.90 and a beta of 1.05. The firm’s 50 day moving average is $172.39 and its 200 day moving average is $156.39. Thermo Fisher Scientific Inc has a 52 week low of $139.07 and a 52 week high of $176.85.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 26th. The medical research company reported $2.08 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.06. Thermo Fisher Scientific had a return on equity of 15.73% and a net margin of 11.58%. The business had revenue of $4.77 billion for the quarter, compared to analysts’ expectations of $4.68 billion. During the same period in the previous year, the business posted $1.80 EPS. The firm’s quarterly revenue was up 10.9% compared to the same quarter last year. Equities analysts anticipate that Thermo Fisher Scientific Inc will post $9.22 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 17th. Stockholders of record on Thursday, June 15th will be given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.34%. The ex-dividend date is Tuesday, June 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.95%.

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A number of research firms recently commented on TMO. Jefferies Group LLC reaffirmed a “hold” rating and issued a $160.00 price objective on shares of Thermo Fisher Scientific in a research note on Wednesday, March 29th. Bank of America Corporation lifted their target price on shares of Thermo Fisher Scientific from $190.00 to $200.00 and gave the company a “buy” rating in a research note on Tuesday, May 9th. Deutsche Bank AG set a $200.00 target price on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Saturday, June 10th. BTIG Research lifted their target price on shares of Thermo Fisher Scientific from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Finally, Leerink Swann set a $187.00 target price on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Thursday, April 27th. Three equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $183.47.

In other news, insider Daniel P. Shine sold 4,688 shares of the company’s stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $171.88, for a total transaction of $805,773.44. Following the sale, the insider now directly owns 29,200 shares in the company, valued at $5,018,896. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Thomas W. Loewald sold 1,532 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $168.76, for a total value of $258,540.32. Following the sale, the insider now owns 41,277 shares in the company, valued at $6,965,906.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,720 shares of company stock worth $4,960,764. Company insiders own 0.49% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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