Perigon Wealth Management LLC Lowers Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Perigon Wealth Management LLC decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,399 shares of the medical research company’s stock after selling 503 shares during the period. Perigon Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $14,629,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cypress Advisory Group LLC purchased a new stake in Thermo Fisher Scientific during the fourth quarter valued at approximately $253,000. Intact Investment Management Inc. lifted its position in Thermo Fisher Scientific by 34.0% during the fourth quarter. Intact Investment Management Inc. now owns 2,600 shares of the medical research company’s stock valued at $1,353,000 after acquiring an additional 660 shares during the last quarter. Purkiss Capital Advisors LLC purchased a new stake in Thermo Fisher Scientific during the fourth quarter valued at approximately $1,121,000. LaFleur & Godfrey LLC lifted its position in Thermo Fisher Scientific by 9.1% during the fourth quarter. LaFleur & Godfrey LLC now owns 29,767 shares of the medical research company’s stock valued at $15,486,000 after acquiring an additional 2,488 shares during the last quarter. Finally, Deutsche Bank AG lifted its position in Thermo Fisher Scientific by 9.5% during the fourth quarter. Deutsche Bank AG now owns 1,321,633 shares of the medical research company’s stock valued at $687,553,000 after acquiring an additional 114,277 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 1.5%

NYSE:TMO opened at $410.45 on Thursday. The firm has a market capitalization of $154.94 billion, a P/E ratio of 24.07, a PEG ratio of 2.13 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88. The company’s fifty day moving average price is $410.39 and its 200-day moving average price is $485.33. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38.

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

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a yield of 0.42%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.09%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Royal Bank Of Canada decreased their target price 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. UBS Group cut their price target on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. Barclays cut their price target on shares of Thermo Fisher Scientific from $475.00 to $450.00 and set an “equal weight” rating on the stock in a research note on Tuesday. The Goldman Sachs Group set a $610.00 price target on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Wednesday, April 23rd. Finally, Argus cut their price target on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a research note 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 stock. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus price target of $604.05.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Monday, April 28th. The shares were sold at an average price of $429.93, for a total transaction of $128,979.00. Following the transaction, the executive vice president now directly owns 23,167 shares of the company’s stock, valued at $9,960,188.31. This trade represents a 1.28% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.33% of the stock is owned by company insiders.

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.