Parkside Investments LLC Lowers Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Parkside Investments LLC cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 14,188 shares of the medical research company’s stock after selling 69 shares during the quarter. Parkside Investments LLC’s holdings in Thermo Fisher Scientific were worth $8,246,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwest Financial Advisors purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $29,000. True Wealth Design LLC increased its position in shares of Thermo Fisher Scientific by 1,275.0% during the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 51 shares during the last quarter. Pineridge Advisors LLC purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $39,000. Cape Investment Advisory Inc. increased its position in shares of Thermo Fisher Scientific by 52.0% during the fourth quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock valued at $40,000 after acquiring an additional 26 shares during the last quarter. Finally, Raleigh Capital Management Inc. increased its position in shares of Thermo Fisher Scientific by 49.1% during the third quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock valued at $41,000 after acquiring an additional 27 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $567.94, for a total value of $1,135,880.00. Following the transaction, the senior vice president now owns 13,083 shares in the company, valued at $7,430,359.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $567.94, for a total value of $1,135,880.00. Following the transaction, the senior vice president now owns 13,083 shares in the company, valued at $7,430,359.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value of $5,672,800.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $70,238,340.48. The disclosure for this sale can be found here. Insiders have sold 22,000 shares of company stock worth $12,532,780 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on TMO. Barclays increased their price target on Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. Jefferies Financial Group reissued a “buy” rating and set a $650.00 price objective (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. HSBC increased their price objective on Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a report on Tuesday, April 30th. Citigroup initiated coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They set a “neutral” rating and a $620.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, April 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $607.94.

Thermo Fisher Scientific Price Performance

NYSE:TMO traded up $3.36 during trading hours on Wednesday, hitting $559.88. 268,764 shares of the company’s stock traded hands, compared to its average volume of 1,507,561. The firm has a market cap of $213.72 billion, a P/E ratio of 35.65, a P/E/G ratio of 2.60 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $603.82. The business’s fifty day simple moving average is $574.29 and its two-hundred day simple moving average is $562.30. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. The company had revenue of $10.35 billion during the quarter, compared to analyst estimates of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.65 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, June 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s payout ratio is 10.01%.

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.