Abbrea Capital LLC Sells 47 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Abbrea Capital LLC decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,962 shares of the medical research company’s stock after selling 47 shares during the period. Abbrea Capital LLC’s holdings in Thermo Fisher Scientific were worth $1,042,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Thermo Fisher Scientific by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 32,760,738 shares of the medical research company’s stock valued at $16,582,503,000 after acquiring an additional 180,618 shares during the last quarter. Morgan Stanley raised its position in Thermo Fisher Scientific by 0.4% during the third quarter. Morgan Stanley now owns 12,418,429 shares of the medical research company’s stock worth $6,285,838,000 after acquiring an additional 50,736 shares during the period. Northern Trust Corp lifted its position in shares of Thermo Fisher Scientific by 2.6% in the third quarter. Northern Trust Corp now owns 3,929,225 shares of the medical research company’s stock valued at $1,988,856,000 after acquiring an additional 99,377 shares in the last quarter. Wellington Management Group LLP boosted its position in Thermo Fisher Scientific by 9.8% during the third quarter. Wellington Management Group LLP now owns 3,080,687 shares of the medical research company’s stock worth $1,559,351,000 after acquiring an additional 274,464 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Thermo Fisher Scientific by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,184,928 shares of the medical research company’s stock worth $1,105,945,000 after purchasing an additional 8,672 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. The Goldman Sachs Group upped their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. JPMorgan Chase & Co. boosted their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI raised their price target on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, HSBC increased their price target on shares of Thermo Fisher Scientific from $630.00 to $660.00 and gave the stock a “buy” rating in a research report on Wednesday, April 17th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $606.76.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the sale, the chief executive officer now owns 49,155 shares in the company, valued at $27,311,992.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the transaction, the senior vice president now owns 12,901 shares in the company, valued at approximately $7,250,362. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total value of $5,556,300.00. Following the completion of the sale, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at $27,311,992.65. The disclosure for this sale can be found here. Insiders have sold 50,277 shares of company stock worth $28,513,384 in the last quarter. Company insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Stock Down 1.0 %

Shares of NYSE TMO traded down $5.66 during mid-day trading on Thursday, reaching $571.73. The company had a trading volume of 1,183,951 shares, compared to its average volume of 1,563,443. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $603.82. The stock has a market cap of $218.24 billion, a P/E ratio of 36.99, a PEG ratio of 2.42 and a beta of 0.80. The firm has a 50 day simple moving average of $572.61 and a two-hundred day simple moving average of $529.06.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The company had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.51 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.10%.

About Thermo Fisher Scientific

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.