Linscomb Wealth Inc. Sells 1,613 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Linscomb Wealth Inc. cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 51.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,512 shares of the medical research company’s stock after selling 1,613 shares during the period. Linscomb Wealth Inc.’s holdings in Thermo Fisher Scientific were worth $879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently made changes to their positions in TMO. LifeSteps Financial Inc. purchased a new position in shares of Thermo Fisher Scientific during the first quarter valued at about $31,000. Northwest Financial Advisors bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $29,000. True Wealth Design LLC increased its position in shares of Thermo Fisher Scientific by 1,275.0% during the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 51 shares during the last quarter. Headlands Technologies LLC purchased a new position in Thermo Fisher Scientific during the 1st quarter valued at $32,000. Finally, Pineridge Advisors LLC purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at $39,000. Institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of research reports. Stifel Nicolaus raised their target price on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the company a “buy” rating in a research report on Thursday. Barclays lowered their target price on Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a report on Friday, June 28th. Raymond James lifted their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday. Royal Bank of Canada raised their target price on Thermo Fisher Scientific from $660.00 to $664.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Robert W. Baird upped their price objective on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $618.94.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total value of $5,724,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at approximately $70,873,516.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Up 2.1 %

Shares of TMO traded up $12.64 during midday trading on Friday, reaching $607.14. The company had a trading volume of 2,715,365 shares, compared to its average volume of 1,737,231. The firm has a 50 day simple moving average of $563.01 and a 200-day simple moving average of $565.81. The company has a quick ratio of 1.33, a current ratio of 1.72 and a debt-to-equity ratio of 0.64. The stock has a market cap of $231.76 billion, a PE ratio of 38.94, a price-to-earnings-growth ratio of 2.77 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $614.65.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a net margin of 14.69% and a return on equity of 18.22%. The company had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. During the same period in the previous year, the firm earned $5.15 earnings per share. Thermo Fisher Scientific’s quarterly revenue was down 1.4% compared to the same quarter last year. Research analysts forecast that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 annualized dividend and a yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

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.