Amalgamated Bank Cuts Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Amalgamated Bank reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 94,839 shares of the medical research company’s stock after selling 5,161 shares during the quarter. Amalgamated Bank’s holdings in Thermo Fisher Scientific were worth $50,340,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TMO. Accurate Wealth Management LLC grew its position in shares of Thermo Fisher Scientific by 6.3% in the 3rd quarter. Accurate Wealth Management LLC now owns 553 shares of the medical research company’s stock valued at $268,000 after buying an additional 33 shares during the last quarter. Kingswood Wealth Advisors LLC grew its position in Thermo Fisher Scientific by 14.2% in the 3rd quarter. Kingswood Wealth Advisors LLC now owns 995 shares of the medical research company’s stock valued at $504,000 after buying an additional 124 shares during the last quarter. Tectonic Advisors LLC grew its holdings in Thermo Fisher Scientific by 18.7% during the third quarter. Tectonic Advisors LLC now owns 2,245 shares of the medical research company’s stock worth $1,136,000 after acquiring an additional 353 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in shares of Thermo Fisher Scientific by 1.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 82,690 shares of the medical research company’s stock worth $41,855,000 after purchasing an additional 997 shares in the last quarter. Finally, Stratos Wealth Advisors LLC raised its holdings in shares of Thermo Fisher Scientific by 46.8% in the third quarter. Stratos Wealth Advisors LLC now owns 4,195 shares of the medical research company’s stock worth $2,124,000 after acquiring an additional 1,338 shares during the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Price Performance

NYSE:TMO traded down $3.74 on Thursday, hitting $571.25. The company had a trading volume of 1,346,936 shares, compared to its average volume of 1,547,173. Thermo Fisher Scientific Inc. has a 52 week low of $415.60 and a 52 week high of $603.82. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68. The stock has a market capitalization of $218.05 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.36 and a beta of 0.80. The firm has a 50 day moving average of $575.03 and a two-hundred day moving average of $531.97.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. The company had revenue of $10.35 billion for the quarter, compared to analysts’ expectations of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.64 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were paid a $0.39 dividend. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Thursday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the sale, the director now directly owns 1,207 shares in the company, valued at approximately $660,192.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s 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 sale, the chief executive officer now owns 49,155 shares in the company, valued at approximately $27,311,992.65. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Debora L. Spar sold 164 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $546.97, for a total value of $89,703.08. Following the completion of the sale, the director now owns 1,207 shares in the company, valued at $660,192.79. The disclosure for this sale can be found here. Insiders have sold a total of 62,277 shares of company stock valued at $35,373,364 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on TMO shares. Royal Bank of Canada boosted their price objective on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Sanford C. Bernstein reissued a “market perform” rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. Robert W. Baird dropped their target price on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, April 25th. Barclays lifted their price objective on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. Finally, Citigroup initiated coverage on Thermo Fisher Scientific in a report on Monday, March 18th. They set a “neutral” rating and a $620.00 target price for the company. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $607.35.

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.