Steinberg Global Asset Management held its stake in Thermo Fisher Scientific Inc (NYSE:TMO) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,915 shares of the medical research company’s stock at the end of the first quarter. Steinberg Global Asset Management’s holdings in Thermo Fisher Scientific were worth $909,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Pictet Asset Management Ltd. raised its stake in shares of Thermo Fisher Scientific by 1.2% in the first quarter. Pictet Asset Management Ltd. now owns 2,407,464 shares of the medical research company’s stock worth $369,786,000 after buying an additional 29,513 shares during the period. Pioneer Investment Management Inc. raised its stake in shares of Thermo Fisher Scientific by 1.6% in the first quarter. Pioneer Investment Management Inc. now owns 2,219,085 shares of the medical research company’s stock worth $340,851,000 after buying an additional 34,012 shares during the period. C WorldWide Group Holding A S raised its stake in shares of Thermo Fisher Scientific by 997.1% in the first quarter. C WorldWide Group Holding A S now owns 1,950,049 shares of the medical research company’s stock worth $299,527,000 after buying an additional 1,772,300 shares during the period. Swiss National Bank raised its stake in shares of Thermo Fisher Scientific by 27.5% in the first quarter. Swiss National Bank now owns 1,399,732 shares of the medical research company’s stock worth $214,999,000 after buying an additional 301,600 shares during the period. Finally, Tesco Pension Investment Ltd raised its stake in shares of Thermo Fisher Scientific by 17.1% in the first quarter. Tesco Pension Investment Ltd now owns 1,013,923 shares of the medical research company’s stock worth $155,739,000 after buying an additional 148,047 shares during the period. Institutional investors own 86.93% of the company’s stock.

Thermo Fisher Scientific Inc (NYSE:TMO) opened at 182.18 on Friday. The firm’s 50-day moving average is $176.35 and its 200-day moving average is $162.18. The stock has a market capitalization of $71.27 billion, a P/E ratio of 33.23 and a beta of 1.06. Thermo Fisher Scientific Inc has a 12-month low of $139.07 and a 12-month high of $182.86.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, April 26th. The medical research company reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.06. Thermo Fisher Scientific had a return on equity of 15.73% and a net margin of 11.58%. The firm had revenue of $4.77 billion during the quarter, compared to the consensus estimate of $4.68 billion. During the same period last year, the company earned $1.80 earnings per share. The company’s revenue was up 10.9% on a year-over-year basis. Analysts predict that Thermo Fisher Scientific Inc will post $9.23 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 15th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.60 annualized dividend and a dividend yield of 0.33%. Thermo Fisher Scientific’s payout ratio is presently 10.95%.

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TMO has been the subject of a number of recent research reports. Bank of America Corporation restated a “buy” rating and set a $210.00 price target (up previously from $200.00) on shares of Thermo Fisher Scientific in a research note on Friday. Barclays PLC set a $175.00 price target on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a research note on Wednesday, April 26th. Cantor Fitzgerald initiated coverage on shares of Thermo Fisher Scientific in a research note on Thursday, May 18th. They set an “overweight” rating and a $194.00 price target for the company. Cowen and Company restated an “outperform” rating and set a $185.00 price target (up previously from $175.00) on shares of Thermo Fisher Scientific in a research note on Saturday, April 29th. Finally, Morgan Stanley boosted their price target on shares of Thermo Fisher Scientific from $186.00 to $192.00 and gave the company an “overweight” rating in a research note on Friday, April 28th. One analyst has rated the stock with a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. Thermo Fisher Scientific currently has an average rating of “Buy” and an average price target of $187.88.

In related news, insider Thomas W. Loewald sold 1,532 shares of the stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $168.76, for a total transaction of $258,540.32. Following the sale, the insider now directly owns 41,277 shares of the company’s stock, valued at $6,965,906.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephen Williamson sold 2,500 shares of the stock in a transaction on Monday, June 5th. The shares were sold at an average price of $176.26, for a total value of $440,650.00. Following the sale, the chief financial officer now directly owns 37,790 shares in the company, valued at $6,660,865.40. The disclosure for this sale can be found here. Insiders have sold 28,720 shares of company stock valued at $4,960,764 over the last 90 days. Corporate insiders own 0.49% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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