Jessup Wealth Management Inc Cuts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Jessup Wealth Management Inc trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,064 shares of the medical research company’s stock after selling 60 shares during the quarter. Jessup Wealth Management Inc’s holdings in Thermo Fisher Scientific were worth $619,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TMO. Norges Bank purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $2,909,524,000. International Assets Investment Management LLC raised its stake in Thermo Fisher Scientific by 61,995.4% in the fourth quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock valued at $535,923,000 after buying an additional 1,008,045 shares in the last quarter. Veritas Asset Management LLP lifted its holdings in Thermo Fisher Scientific by 70.1% during the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock worth $898,175,000 after buying an additional 697,383 shares during the last quarter. Winslow Capital Management LLC purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at about $333,786,000. Finally, Clearbridge Investments LLC lifted its stake in Thermo Fisher Scientific by 33.1% during the fourth quarter. Clearbridge Investments LLC now owns 2,228,730 shares of the medical research company’s stock worth $1,182,987,000 after purchasing an additional 553,695 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO stock traded down $0.39 during midday trading on Friday, reaching $550.39. 541,480 shares of the company traded hands, compared to its average volume of 1,506,558. The firm has a market cap of $210.09 billion, a PE ratio of 35.47, a price-to-earnings-growth ratio of 2.60 and a beta of 0.79. 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 firm’s 50 day simple moving average is $574.51 and its two-hundred day simple moving average is $562.27. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $603.82.

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

Thermo Fisher Scientific Announces Dividend

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

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on 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 directly owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $70,238,340.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of the transaction, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,000 shares of company stock valued at $12,532,780. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on TMO shares. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Robert W. Baird reduced their price target on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. The Goldman Sachs Group raised their price objective on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. HSBC upped their target price on Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. Finally, JPMorgan Chase & Co. boosted their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research note on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $607.06.

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.