Banque Pictet & Cie SA decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 233,616 shares of the medical research company’s stock after selling 24,530 shares during the quarter. Thermo Fisher Scientific accounts for approximately 1.2% of Banque Pictet & Cie SA’s portfolio, making the stock its 19th largest holding. Banque Pictet & Cie SA’s holdings in Thermo Fisher Scientific were worth $63,945,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vontobel Swiss Wealth Advisors AG acquired a new stake in Thermo Fisher Scientific in the 1st quarter valued at $3,347,000. Robeco Institutional Asset Management B.V. grew its stake in Thermo Fisher Scientific by 9.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 163,532 shares of the medical research company’s stock valued at $44,760,000 after acquiring an additional 13,966 shares during the period. Park Avenue Securities LLC acquired a new stake in Thermo Fisher Scientific in the 1st quarter valued at $2,089,000. Buckingham Asset Management LLC grew its stake in Thermo Fisher Scientific by 6.9% in the 1st quarter. Buckingham Asset Management LLC now owns 2,106 shares of the medical research company’s stock valued at $576,000 after acquiring an additional 136 shares during the period. Finally, Avitas Wealth Management LLC grew its stake in Thermo Fisher Scientific by 1.0% in the 1st quarter. Avitas Wealth Management LLC now owns 14,330 shares of the medical research company’s stock valued at $3,922,000 after acquiring an additional 136 shares during the period. 88.39% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Gregory J. Herrema sold 5,400 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $251.51, for a total transaction of $1,358,154.00. Following the transaction, the senior vice president now owns 31,846 shares in the company, valued at approximately $8,009,587.46. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Peter E. Hornstra sold 5,920 shares of Thermo Fisher Scientific stock in a transaction on Friday, February 15th. The stock was sold at an average price of $250.00, for a total value of $1,480,000.00. Following the transaction, the chief accounting officer now owns 17,057 shares in the company, valued at approximately $4,264,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 87,640 shares of company stock worth $23,243,423. 0.45% of the stock is currently owned by corporate insiders.
Shares of TMO opened at $263.04 on Thursday. Thermo Fisher Scientific Inc. has a 52-week low of $202.83 and a 52-week high of $282.98. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.16 and a current ratio of 1.69. The firm has a market cap of $104.43 billion, a price-to-earnings ratio of 23.65, a price-to-earnings-growth ratio of 1.71 and a beta of 1.11.
Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, April 24th. The medical research company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.74 by $0.07. Thermo Fisher Scientific had a net margin of 12.89% and a return on equity of 17.06%. The company had revenue of $6.13 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the previous year, the company posted $2.50 EPS. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 12.19 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Friday, March 15th were paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 0.29%. The ex-dividend date was Thursday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.17. Thermo Fisher Scientific’s payout ratio is 6.83%.
A number of equities research analysts recently issued reports on TMO shares. Bank of America reissued a “buy” rating and issued a $300.00 price target (up previously from $285.00) on shares of Thermo Fisher Scientific in a research note on Tuesday, April 16th. BTIG Research lifted their price target on shares of Thermo Fisher Scientific to $290.00 and gave the company a “buy” rating in a research note on Thursday, January 31st. Barclays lifted their price target on shares of Thermo Fisher Scientific from $295.00 to $300.00 and gave the company an “overweight” rating in a research note on Monday, March 18th. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $312.00 price target on the stock in a research note on Wednesday, May 8th. Finally, Needham & Company LLC reissued a “strong-buy” rating and issued a $312.00 price target (up previously from $271.00) on shares of Thermo Fisher Scientific in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $293.77.
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About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical and other instruments, laboratory equipment, software, consumables, reagents, instrument systems, chemicals, supplies, and services under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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