Hanson & Doremus Investment Management Cuts Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Hanson & Doremus Investment Management decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.3% during the first quarter, Holdings Channel reports. The firm owned 863 shares of the medical research company’s stock after selling 89 shares during the quarter. Hanson & Doremus Investment Management’s holdings in Thermo Fisher Scientific were worth $429,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. purchased a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $25,000. FPC Investment Advisory Inc. purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $28,000. Pillar Financial Advisors LLC purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $29,000. Ameriflex Group Inc. purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $30,000. Finally, Noble Wealth Management PBC purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $35,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Monday, April 28th. The shares were 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 approximately $9,960,188.31. This represents a 1.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wells Fargo & Company cut their price objective on Thermo Fisher Scientific from $580.00 to $570.00 and set an “overweight” rating on the stock in a research report on Thursday, April 24th. Robert W. Baird cut their price objective on Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Evercore ISI cut their price objective on Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. UBS Group cut their price objective on Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $605.30.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $402.12 on Monday. 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 Inc. has a 1 year low of $390.50 and a 1 year high of $627.88. The company has a market capitalization of $151.80 billion, a PE ratio of 24.33, a P/E/G ratio of 2.99 and a beta of 0.78. The company has a fifty day moving average of $416.80 and a two-hundred day moving average of $491.98.

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

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced 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 10.09%.

Thermo Fisher Scientific Company 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.