Progressive Investment Management Corp Cuts Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Progressive Investment Management Corp cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,604 shares of the medical research company’s stock after selling 348 shares during the quarter. Thermo Fisher Scientific comprises about 1.6% of Progressive Investment Management Corp’s investment portfolio, making the stock its 22nd largest position. Progressive Investment Management Corp’s holdings in Thermo Fisher Scientific were worth $6,037,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in TMO. Vanguard Group Inc. increased its holdings in Thermo Fisher Scientific by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company’s stock valued at $17,297,426,000 after buying an additional 196,864 shares in the last quarter. State Street Corp increased its stake in Thermo Fisher Scientific by 0.8% in the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after purchasing an additional 124,996 shares in the last quarter. Geode Capital Management LLC raised its holdings in Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after purchasing an additional 127,564 shares during the last quarter. Norges Bank acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at $3,149,754,000. Finally, Franklin Resources Inc. increased its position in shares of Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after buying an additional 262,062 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $499.75 on Friday. The company’s fifty day simple moving average is $541.60 and its 200-day simple moving average is $552.80. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a market cap of $188.53 billion, a PE ratio of 30.23, a P/E/G ratio of 2.99 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.34%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.41%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on TMO. Morgan Stanley raised their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Raymond James restated an “outperform” rating and set a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Citigroup dropped their price target on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Bank of America reduced their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Finally, Scotiabank boosted their target price on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research note on Monday, February 3rd. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $653.23.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the sale, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stephen Williamson sold 9,825 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at $15,984,264.64. The trade was a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock valued at $13,106,062 in the last quarter. Company insiders own 0.34% of the company’s stock.

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.