OVERSEA CHINESE BANKING Corp Ltd Sells 908 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

OVERSEA CHINESE BANKING Corp Ltd reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 11.5% in the first quarter, according to its most recent filing with the SEC. The fund 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bernard Wealth Management Corp. bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $25,000. Ameriflex Group Inc. purchased a new position in Thermo Fisher Scientific during the 4th quarter worth $30,000. Cassady Schiller Wealth Management LLC increased its holdings in Thermo Fisher Scientific by 89.2% during the 4th quarter. Cassady Schiller Wealth Management LLC now owns 70 shares of the medical research company’s stock worth $36,000 after purchasing an additional 33 shares during the period. VSM Wealth Advisory LLC purchased a new position in Thermo Fisher Scientific during the 4th quarter worth $36,000. Finally, Navigoe LLC purchased a new position in Thermo Fisher Scientific during the 4th quarter worth $37,000. 89.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have commented on TMO. Wells Fargo & Company reduced their price objective on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Robert W. Baird reduced their price objective on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. UBS Group cut Thermo Fisher Scientific from a “buy” rating to a “neutral” rating and dropped their target price for the company from $500.00 to $460.00 in a research report on Tuesday, July 8th. Argus dropped their target price on 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. Finally, Barclays dropped their target price on Thermo Fisher Scientific from $475.00 to $450.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 24th. Four analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $600.30.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated 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 sale, the executive vice president owned 23,167 shares of the company’s stock, valued at approximately $9,960,188.31. The trade was a 1.28% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Down 2.2%

Thermo Fisher Scientific stock opened at $425.44 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.77 and a quick ratio of 1.38. The stock has a market capitalization of $160.60 billion, a price-to-earnings ratio of 24.95, a PEG ratio of 2.31 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $627.88. The business has a fifty day moving average price of $409.45 and a 200-day moving average price of $475.17.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, topping analysts’ consensus estimates of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.15% and a net margin of 15.19%. The company had revenue of $10.36 billion during the quarter, compared to analysts’ expectations of $10.23 billion. During the same quarter in the previous year, the firm posted $5.11 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Monday, September 15th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a yield of 0.40%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.09%.

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.