Hemenway Trust Co LLC Cuts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Hemenway Trust Co LLC trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.5% in the 1st quarter, Holdings Channel.com reports. The firm owned 5,972 shares of the medical research company’s stock after selling 29 shares during the period. Hemenway Trust Co LLC’s holdings in Thermo Fisher Scientific were worth $3,471,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in Thermo Fisher Scientific in the 4th quarter valued at $2,909,524,000. International Assets Investment Management LLC grew its stake in Thermo Fisher Scientific by 61,995.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,009,671 shares of the medical research company’s stock valued at $535,923,000 after acquiring an additional 1,008,045 shares during the period. Veritas Asset Management LLP grew its stake in Thermo Fisher Scientific by 70.1% in the 4th quarter. Veritas Asset Management LLP now owns 1,692,148 shares of the medical research company’s stock valued at $898,175,000 after acquiring an additional 697,383 shares during the period. Winslow Capital Management LLC acquired a new stake in Thermo Fisher Scientific in the 4th quarter valued at $333,786,000. Finally, Clearbridge Investments LLC grew its stake in Thermo Fisher Scientific by 33.1% in the 4th quarter. Clearbridge Investments LLC now owns 2,228,730 shares of the medical research company’s stock valued at $1,182,987,000 after acquiring an additional 553,695 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $567.94, for a total value of $1,135,880.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,430,359.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at $70,238,340.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $567.94, for a total value of $1,135,880.00. Following the sale, the senior vice president now owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The disclosure for this sale can be found here. Insiders sold 22,000 shares of company stock valued at $12,532,780 over the last three months. 0.34% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Stock Up 1.1 %

Shares of TMO stock traded up $5.67 during trading hours on Thursday, reaching $542.54. 1,402,436 shares of the stock were exchanged, compared to its average volume of 1,541,105. The business’s fifty day moving average is $568.75 and its two-hundred day moving average is $563.67. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.33. The firm has a market capitalization of $207.10 billion, a P/E ratio of 34.80, a P/E/G ratio of 2.50 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The firm had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TMO shares. The Goldman Sachs Group lifted their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. HSBC lifted their target price on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Citigroup started coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They set a “neutral” rating and a $620.00 target price on the stock. Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 target price (up previously from $600.00) on shares of Thermo Fisher Scientific in a research note on Monday, June 3rd. Finally, Evercore ISI lowered their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $606.47.

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.