Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Lessened by Harrington Investments INC

Harrington Investments INC cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,003 shares of the medical research company’s stock after selling 46 shares during the quarter. Thermo Fisher Scientific accounts for about 2.8% of Harrington Investments INC’s investment portfolio, making the stock its 9th largest holding. Harrington Investments INC’s holdings in Thermo Fisher Scientific were worth $4,977,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Semus Wealth Partners LLC increased its position in shares of Thermo Fisher Scientific by 4.0% during the 4th quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock valued at $245,000 after purchasing an additional 18 shares during the last quarter. Proactive Wealth Strategies LLC increased its holdings in Thermo Fisher Scientific by 2.7% during the fourth quarter. Proactive Wealth Strategies LLC now owns 753 shares of the medical research company’s stock valued at $392,000 after buying an additional 20 shares during the last quarter. Cassaday & Co Wealth Management LLC raised its position in Thermo Fisher Scientific by 0.9% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 2,286 shares of the medical research company’s stock worth $1,189,000 after acquiring an additional 20 shares during the period. Callan Capital LLC boosted its stake in shares of Thermo Fisher Scientific by 2.7% during the 4th quarter. Callan Capital LLC now owns 773 shares of the medical research company’s stock worth $402,000 after acquiring an additional 20 shares during the last quarter. Finally, One Charles Private Wealth Services LLC increased its stake in shares of Thermo Fisher Scientific by 4.2% in the 4th quarter. One Charles Private Wealth Services LLC now owns 499 shares of the medical research company’s stock worth $260,000 after purchasing an additional 20 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $401.99 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. Thermo Fisher Scientific Inc. has a 1-year low of $390.50 and a 1-year high of $627.88. The business has a 50 day simple moving average of $420.74 and a two-hundred day simple moving average of $495.93. The stock has a market capitalization of $151.75 billion, a PE ratio of 24.32, a P/E/G ratio of 2.99 and a beta of 0.78.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The firm had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. During the same period last year, the firm posted $5.11 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was up .2% compared to the same quarter last year. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Friday, June 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.09%.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the completion of the transaction, the executive vice president now owns 23,167 shares in the company, valued at $9,960,188.31. The trade was a 1.28% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction on Monday, March 10th. The stock was sold at an average price of $532.52, for a total value of $2,010,263.00. Following the sale, the senior vice president now owns 10,816 shares of the company’s stock, valued at approximately $5,759,736.32. This trade represents a 25.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have issued reports on TMO. Citigroup cut their price target on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Barclays cut their price objective on Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. Evercore ISI decreased their target price on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada dropped their price target on shares of Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Finally, Argus decreased their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a research report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $605.30.

Thermo Fisher Scientific Profile

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.