Vestcor Inc Sells 3,538 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Vestcor Inc decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 30.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,216 shares of the medical research company’s stock after selling 3,538 shares during the quarter. Vestcor Inc’s holdings in Thermo Fisher Scientific were worth $4,088,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in Thermo Fisher Scientific by 28.9% during the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after buying an additional 988 shares during the period. Revolve Wealth Partners LLC increased its position in Thermo Fisher Scientific by 4.2% during the 4th quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after purchasing an additional 20 shares during the period. Bank Pictet & Cie Europe AG raised its holdings in Thermo Fisher Scientific by 0.3% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company’s stock worth $79,677,000 after purchasing an additional 461 shares during the last quarter. New Age Alpha Advisors LLC acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $48,000. Finally, May Hill Capital LLC acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $227,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on TMO. Barclays boosted their target price on shares of Thermo Fisher Scientific from $450.00 to $490.00 and gave the company an “equal weight” rating in a report on Thursday, July 24th. Raymond James Financial restated an “outperform” rating and set a $535.00 target price (up previously from $525.00) on shares of Thermo Fisher Scientific in a research report on Thursday, July 24th. Scotiabank upgraded Thermo Fisher Scientific from a “sector perform” rating to a “sector outperform” rating and set a $590.00 target price for the company in a report on Friday, July 11th. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Wednesday, May 21st. Finally, Argus lowered their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating for the company in a research note on Tuesday, April 29th. Six equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $593.00.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $479.98, for a total transaction of $191,992.00. Following the transaction, the executive vice president owned 22,367 shares of the company’s stock, valued at $10,735,712.66. This trade represents a 1.76% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO stock opened at $477.01 on Thursday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93. The business has a 50-day simple moving average of $418.15 and a two-hundred day simple moving average of $468.92. The company has a market capitalization of $180.07 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 2.58 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.22 by $0.14. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The business had revenue of $10.86 billion during the quarter, compared to the consensus estimate of $10.68 billion. During the same quarter in the prior year, the company posted $5.37 earnings per share. Thermo Fisher Scientific’s revenue was up 2.9% compared to the same quarter last year. Research analysts expect 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. Investors of record on Monday, September 15th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date is Monday, September 15th. Thermo Fisher Scientific’s payout ratio is currently 9.95%.

Thermo Fisher Scientific Company 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.