United Capital Financial Advisers LLC cut its stake in shares of Thermo Fisher Scientific Inc (NYSE:TMO) by 1.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,126 shares of the medical research company’s stock after selling 2,094 shares during the period. United Capital Financial Advisers LLC’s holdings in Thermo Fisher Scientific were worth $16,915,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the stock. BB&T Securities LLC raised its position in Thermo Fisher Scientific by 4.4% in the first quarter. BB&T Securities LLC now owns 89,837 shares of the medical research company’s stock valued at $13,798,000 after buying an additional 3,819 shares during the last quarter. Toronto Dominion Bank increased its stake in shares of Thermo Fisher Scientific by 53.5% in the first quarter. Toronto Dominion Bank now owns 107,099 shares of the medical research company’s stock valued at $16,450,000 after buying an additional 37,307 shares during the period. Huntington National Bank increased its stake in shares of Thermo Fisher Scientific by 6.9% in the first quarter. Huntington National Bank now owns 186,907 shares of the medical research company’s stock valued at $28,708,000 after buying an additional 12,025 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Thermo Fisher Scientific by 1.1% in the first quarter. Advisors Asset Management Inc. now owns 66,308 shares of the medical research company’s stock valued at $10,185,000 after buying an additional 735 shares during the period. Finally, Nicolet Bankshares Inc. increased its stake in shares of Thermo Fisher Scientific by 1.7% in the first quarter. Nicolet Bankshares Inc. now owns 3,933 shares of the medical research company’s stock valued at $604,000 after buying an additional 67 shares during the period. 87.60% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Inc (TMO) traded up 0.43% during mid-day trading on Monday, hitting $173.31. The stock had a trading volume of 357,291 shares. The stock has a market cap of $67.61 billion, a PE ratio of 30.19 and a beta of 1.06. Thermo Fisher Scientific Inc has a 1-year low of $139.07 and a 1-year high of $182.87. The firm’s 50-day moving average price is $176.71 and its 200-day moving average price is $166.56.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.30 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.27 by $0.03. The firm had revenue of $5 billion for the quarter, compared to the consensus estimate of $4.92 billion. Thermo Fisher Scientific had a net margin of 11.80% and a return on equity of 15.97%. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same period last year, the firm posted $2.03 earnings per share. On average, equities analysts expect that Thermo Fisher Scientific Inc will post $9.24 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Stockholders of record on Friday, September 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.35%. The ex-dividend date is Thursday, September 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 10.45%.

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TMO has been the subject of several recent analyst reports. Bank of America Corporation restated a “buy” rating and issued a $210.00 price target (up from $200.00) on shares of Thermo Fisher Scientific in a report on Friday, July 21st. Zacks Investment Research downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Barclays PLC set a $175.00 price target on Thermo Fisher Scientific and gave the stock a “buy” rating in a report on Wednesday, April 26th. Cantor Fitzgerald initiated coverage on Thermo Fisher Scientific in a report on Thursday, May 18th. They issued an “overweight” rating and a $194.00 price target for the company. Finally, Cowen and Company restated an “outperform” rating and issued a $185.00 price target (up from $175.00) on shares of Thermo Fisher Scientific in a report on Saturday, April 29th. One equities research analyst has rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $188.56.

In other Thermo Fisher Scientific news, Director Jim P. Manzi sold 11,318 shares of Thermo Fisher Scientific stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $172.94, for a total transaction of $1,957,334.92. Following the transaction, the director now directly owns 38,757 shares of the company’s stock, valued at $6,702,635.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Jim P. Manzi sold 1,000 shares of Thermo Fisher Scientific stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $175.20, for a total transaction of $175,200.00. Following the transaction, the director now directly owns 38,757 shares in the company, valued at $6,790,226.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,506 shares of company stock worth $6,834,758. 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.

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

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