Pinnacle Associates Ltd. trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,954 shares of the medical research company’s stock after selling 2,425 shares during the period. Pinnacle Associates Ltd.’s holdings in Thermo Fisher Scientific were worth $5,667,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Amalgamated Bank lifted its holdings in Thermo Fisher Scientific by 57.0% in the second quarter. Amalgamated Bank now owns 44,921 shares of the medical research company’s stock valued at $7,837,000 after buying an additional 16,308 shares during the period. Mutual of America Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 2.1% in the second quarter. Mutual of America Capital Management LLC now owns 47,728 shares of the medical research company’s stock valued at $8,327,000 after buying an additional 977 shares during the period. Mitchell Capital Management Co. lifted its holdings in Thermo Fisher Scientific by 40.3% in the second quarter. Mitchell Capital Management Co. now owns 44,940 shares of the medical research company’s stock valued at $7,841,000 after buying an additional 12,910 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in Thermo Fisher Scientific by 0.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 580,712 shares of the medical research company’s stock valued at $101,317,000 after buying an additional 5,213 shares during the period. Finally, San Francisco Sentry Investment Group CA acquired a new position in Thermo Fisher Scientific in the second quarter valued at approximately $1,451,000. Institutional investors own 86.16% of the company’s stock.

Shares of Thermo Fisher Scientific Inc. (NYSE:TMO) traded up $3.97 during trading hours on Friday, reaching $192.27. 3,850,000 shares of the company’s stock traded hands, compared to its average volume of 1,690,000. Thermo Fisher Scientific Inc. has a 1 year low of $139.88 and a 1 year high of $201.20. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.26 and a quick ratio of 0.81. The company has a market capitalization of $76,690.00, a P/E ratio of 21.13, a PEG ratio of 1.76 and a beta of 1.06.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 25th. The medical research company reported $2.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.24 by $0.07. Thermo Fisher Scientific had a net margin of 11.73% and a return on equity of 15.94%. The firm had revenue of $5.12 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the firm earned $2.03 earnings per share. The business’s quarterly revenue was up 13.9% on a year-over-year basis. equities analysts forecast that Thermo Fisher Scientific Inc. will post 9.36 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 15th. Shareholders of record on Friday, December 15th will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.31%. The ex-dividend date is Thursday, December 14th. Thermo Fisher Scientific’s payout ratio is presently 10.19%.

In other news, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $188.39, for a total transaction of $9,419,500.00. Following the completion of the sale, the chief executive officer now owns 252,577 shares of the company’s stock, valued at $47,582,981.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.49% of the stock is currently owned by corporate insiders.

Several equities analysts recently weighed in on TMO shares. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $208.00 price objective on the stock in a report on Thursday, September 7th. Morgan Stanley restated an “overweight” rating and issued a $220.00 price objective on shares of Thermo Fisher Scientific in a report on Wednesday, September 6th. Cowen restated an “outperform” rating and issued a $220.00 price objective (up from $200.00) on shares of Thermo Fisher Scientific in a report on Sunday, September 10th. Leerink Swann restated a “buy” rating on shares of Thermo Fisher Scientific in a report on Monday, October 30th. Finally, Deutsche Bank set a $226.00 price objective on shares of Thermo Fisher Scientific and gave the company a “buy” rating in a report on Thursday, October 26th. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Thermo Fisher Scientific currently has an average rating of “Buy” and an average price target of $205.21.

ILLEGAL ACTIVITY NOTICE: This story was originally published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The legal version of this story can be viewed at https://www.thecerbatgem.com/2017/12/17/pinnacle-associates-ltd-trims-stake-in-thermo-fisher-scientific-inc-tmo.html.

Thermo Fisher Scientific Company Profile

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.

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO).

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

Receive News & Stock Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related stocks with our FREE daily email newsletter.