Eagle Ridge Investment Management Sells 309 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Eagle Ridge Investment Management cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 25.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 897 shares of the medical research company’s stock after selling 309 shares during the period. Eagle Ridge Investment Management’s holdings in Thermo Fisher Scientific were worth $476,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. International Assets Investment Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 61,995.4% during the 4th quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock worth $535,923,000 after acquiring an additional 1,008,045 shares during the period. Loomis Sayles & Co. L P increased its position in shares of Thermo Fisher Scientific by 17,046.7% during the 3rd quarter. Loomis Sayles & Co. L P now owns 973,591 shares of the medical research company’s stock worth $492,803,000 after purchasing an additional 967,913 shares in the last quarter. Rathbones Group PLC increased its position in shares of Thermo Fisher Scientific by 111.0% during the 3rd quarter. Rathbones Group PLC now owns 568,970 shares of the medical research company’s stock worth $287,996,000 after purchasing an additional 299,338 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of Thermo Fisher Scientific by 20.3% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 1,706,179 shares of the medical research company’s stock worth $863,617,000 after purchasing an additional 287,446 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in Thermo Fisher Scientific by 9.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,080,687 shares of the medical research company’s stock valued at $1,559,351,000 after acquiring an additional 274,464 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Up 0.6 %

TMO traded up $3.24 during trading on Monday, reaching $576.84. The company had a trading volume of 587,758 shares, compared to its average volume of 1,548,821. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $603.82. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.33. The business’s fifty day moving average price is $573.60 and its 200 day moving average price is $530.40. The company has a market cap of $220.19 billion, a P/E ratio of 36.82, a PEG ratio of 2.41 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, beating the consensus estimate of $4.70 by $0.41. The business had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.56 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a $0.39 dividend. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, March 14th. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Analyst Ratings Changes

TMO has been the subject of several research reports. Royal Bank of Canada raised their price objective on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the company a “buy” rating in a research report on Thursday. Citigroup started coverage on shares of Thermo Fisher Scientific in a research report on Monday, March 18th. They issued a “neutral” rating and a $620.00 price objective for the company. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Thermo Fisher Scientific in a research note on Monday, January 8th. Finally, The Goldman Sachs Group raised their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $606.76.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the sale, the director now directly owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,547 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $550.62, for a total transaction of $3,054,289.14. Following the completion of the sale, the chief executive officer now owns 43,608 shares of the company’s stock, valued at approximately $24,011,436.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $546.97, for a total value of $89,703.08. Following the sale, the director now directly owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The disclosure for this sale can be found here. Insiders have sold 50,277 shares of company stock valued at $28,513,384 in the last three months. 0.34% of the stock is currently owned by corporate 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.