Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Cut by Progressive Investment Management Corp

Progressive Investment Management Corp trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.9% during the fourth quarter, Holdings Channel reports. The firm owned 11,604 shares of the medical research company’s stock after selling 348 shares during the quarter. Thermo Fisher Scientific comprises 1.6% of Progressive Investment Management Corp’s portfolio, making the stock its 22nd largest holding. Progressive Investment Management Corp’s holdings in Thermo Fisher Scientific were worth $6,037,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Legacy Investment Solutions LLC bought a new position in Thermo Fisher Scientific in the third quarter worth about $26,000. Barrett & Company Inc. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $28,000. FPC Investment Advisory Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at approximately $28,000. Missouri Trust & Investment Co acquired a new stake in Thermo Fisher Scientific in the fourth quarter worth $29,000. Finally, Pillar Financial Advisors LLC bought a new stake in Thermo Fisher Scientific in the fourth quarter valued at $29,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares in the company, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the sale, the chief executive officer now owns 115,174 shares of the company’s stock, valued at approximately $59,506,950.58. The trade was a 7.99 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,900 shares of company stock worth $13,106,062. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 2.3 %

Shares of Thermo Fisher Scientific stock opened at $499.75 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The stock has a market capitalization of $188.53 billion, a P/E ratio of 30.23, a PEG ratio of 2.99 and a beta of 0.79. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average price of $541.60 and a two-hundred day moving average price of $552.80.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Equities analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be given a $0.43 dividend. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a yield of 0.34%. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s payout ratio is currently 10.41%.

Analyst Ratings Changes

TMO has been the topic of a number of analyst reports. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Wells Fargo & Company lifted their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a report on Friday, January 10th. Raymond James reiterated an “outperform” rating and set a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Finally, Morgan Stanley lifted their price objective on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $653.23.

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.