Federated Hermes Inc. Cuts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Federated Hermes Inc. lessened its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 37.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 93,602 shares of the medical research company’s stock after selling 55,122 shares during the period. Federated Hermes Inc.’s holdings in Thermo Fisher Scientific were worth $49,683,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Thermo Fisher Scientific by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 32,760,738 shares of the medical research company’s stock worth $16,582,503,000 after purchasing an additional 180,618 shares in the last quarter. Morgan Stanley raised its position in Thermo Fisher Scientific by 0.4% in the 3rd quarter. Morgan Stanley now owns 12,418,429 shares of the medical research company’s stock worth $6,285,838,000 after buying an additional 50,736 shares during the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Thermo Fisher Scientific by 104,536.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,355,245 shares of the medical research company’s stock valued at $4,601,150,000 after acquiring an additional 8,347,260 shares during the period. Providence Capital Advisors LLC grew its stake in shares of Thermo Fisher Scientific by 61,754.7% in the first quarter. Providence Capital Advisors LLC now owns 5,842,175 shares of the medical research company’s stock worth $10,136,000 after acquiring an additional 5,832,730 shares during the period. Finally, Norges Bank bought a new position in Thermo Fisher Scientific during the fourth quarter valued at approximately $3,105,677,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.6 %

Shares of TMO opened at $544.79 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $603.82. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $207.95 billion, a PE ratio of 35.26, a price-to-earnings-growth ratio of 2.28 and a beta of 0.80. The business’s 50 day moving average is $571.27 and its 200 day moving average is $527.45.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, January 31st. The medical research company reported $5.67 EPS for the quarter, topping the consensus estimate of $5.64 by $0.03. The firm had revenue of $10.89 billion for the quarter, compared to the consensus estimate of $10.73 billion. Thermo Fisher Scientific had a net margin of 13.99% and a return on equity of 18.78%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.40 earnings per share. Research analysts expect that Thermo Fisher Scientific Inc. will post 21.51 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Thursday, March 14th. Thermo Fisher Scientific’s payout ratio is 10.10%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total value of $5,556,300.00. Following the sale, the chief executive officer now owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total value of $5,556,300.00. Following the completion of the transaction, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael A. Boxer sold 14,566 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total value of $8,186,092.00. Following the completion of the transaction, the senior vice president now owns 12,901 shares of the company’s stock, valued at approximately $7,250,362. The disclosure for this sale can be found here. Over the last three months, insiders sold 50,277 shares of company stock valued at $28,513,384. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on TMO. Barclays lowered shares of Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $475.00 to $555.00 in a research note on Wednesday, January 24th. Royal Bank of Canada increased their target price on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. Sanford C. Bernstein reaffirmed a “market perform” rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. The Goldman Sachs Group raised their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, TheStreet upgraded shares of Thermo Fisher Scientific from a “c+” rating to a “b-” rating in a research report on Friday, December 22nd. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $604.69.

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.