Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Tritonpoint Wealth LLC

Tritonpoint Wealth LLC trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.4% during the first quarter, Holdings Channel reports. The firm owned 20,647 shares of the medical research company’s stock after selling 78 shares during the period. Thermo Fisher Scientific comprises about 1.0% of Tritonpoint Wealth LLC’s holdings, making the stock its 25th largest position. Tritonpoint Wealth LLC’s holdings in Thermo Fisher Scientific were worth $10,283,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in TMO. Bernard Wealth Management Corp. acquired a new stake in Thermo Fisher Scientific in the 4th quarter valued at approximately $25,000. FPC Investment Advisory Inc. acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $28,000. Pillar Financial Advisors LLC acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $29,000. Ameriflex Group Inc. acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $30,000. Finally, Noble Wealth Management PBC acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $35,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total transaction of $128,979.00. Following the completion of the sale, the executive vice president now owns 23,167 shares in the company, valued at $9,960,188.31. This represents a 1.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently issued reports on TMO. UBS Group reduced their price objective on Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating for the company in a research note on Thursday, April 24th. Scotiabank reduced their price objective on Thermo Fisher Scientific from $650.00 to $605.00 and set a “sector perform” rating for the company in a research note on Friday, April 25th. Robert W. Baird reduced their price objective on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Royal Bank of Canada reduced their price objective on Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group set a $610.00 price objective on Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $605.30.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $402.12 on Friday. Thermo Fisher Scientific Inc. has a fifty-two week low of $390.50 and a fifty-two week high of $627.88. The stock’s 50-day moving average is $416.80 and its two-hundred day moving average is $492.39. The firm has a market cap of $151.80 billion, a P/E ratio of 24.33, a PEG ratio of 2.99 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.05. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.11 EPS. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, June 13th. This represents a $1.72 annualized dividend and a dividend yield of 0.43%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.09%.

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.