TIAA CREF Investment Management LLC cut its position in shares of Thermo Fisher Scientific Inc (NYSE:TMO) by 9.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,571,933 shares of the medical research company’s stock after selling 168,768 shares during the period. TIAA CREF Investment Management LLC owned about 0.40% of Thermo Fisher Scientific worth $241,449,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. C WorldWide Group Holding A S raised its position in shares of Thermo Fisher Scientific by 997.1% in the first quarter. C WorldWide Group Holding A S now owns 1,950,049 shares of the medical research company’s stock valued at $299,527,000 after buying an additional 1,772,300 shares during the last quarter. Veritas Asset Management LLP bought a new position in shares of Thermo Fisher Scientific during the first quarter valued at $175,795,000. NN Investment Partners Holdings N.V. raised its position in shares of Thermo Fisher Scientific by 458.2% in the first quarter. NN Investment Partners Holdings N.V. now owns 528,598 shares of the medical research company’s stock valued at $81,194,000 after buying an additional 433,898 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Thermo Fisher Scientific by 5.6% in the first quarter. Wellington Management Group LLP now owns 7,512,152 shares of the medical research company’s stock valued at $1,153,867,000 after buying an additional 398,622 shares during the last quarter. Finally, Findlay Park Partners LLP raised its position in shares of Thermo Fisher Scientific by 20.8% in the first quarter. Findlay Park Partners LLP now owns 2,032,151 shares of the medical research company’s stock valued at $312,138,000 after buying an additional 350,000 shares during the last quarter. 87.60% of the stock is owned by hedge funds and other institutional investors.
Shares of Thermo Fisher Scientific Inc (NYSE TMO) traded up 1.26% during trading on Wednesday, hitting $175.75. 602,996 shares of the stock traded hands. The company has a market cap of $68.56 billion, a PE ratio of 30.62 and a beta of 1.06. The company has a 50 day moving average of $176.78 and a 200-day moving average of $166.23. Thermo Fisher Scientific Inc has a 1-year low of $139.07 and a 1-year high of $182.87.
Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 26th. The medical research company reported $2.30 EPS for the quarter, beating analysts’ consensus estimates of $2.27 by $0.03. The firm had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.92 billion. Thermo Fisher Scientific had a return on equity of 15.97% and a net margin of 11.80%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.03 EPS. On average, equities analysts anticipate that Thermo Fisher Scientific Inc will post $9.24 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Friday, September 15th will be paid a $0.15 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.60 dividend on an annualized basis and a yield of 0.35%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.45%.
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Several analysts have issued reports on TMO shares. Deutsche Bank AG upped their price target on shares of Thermo Fisher Scientific from $163.00 to $188.00 and gave the company a “buy” rating in a report on Friday, April 28th. BTIG Research upped their price objective on shares of Thermo Fisher Scientific from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Friday, April 28th. Barclays PLC set a $175.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Wednesday, April 26th. Leerink Swann set a $187.00 price target on shares of Thermo Fisher Scientific and gave the stock a “buy” rating in a research note on Thursday, April 27th. Finally, Bank of America Corporation increased their price target on shares of Thermo Fisher Scientific from $190.00 to $200.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. One research analyst has rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $188.56.
In related news, insider Daniel P. Shine sold 4,688 shares of the stock in a transaction dated Wednesday, May 24th. The stock was sold at an average price of $171.88, for a total transaction of $805,773.44. Following the completion of the sale, the insider now directly owns 29,200 shares in the company, valued at approximately $5,018,896. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen Williamson sold 2,500 shares of the stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $176.26, for a total value of $440,650.00. Following the sale, the chief financial officer now owns 37,790 shares of the company’s stock, valued at $6,660,865.40. The disclosure for this sale can be found here. Insiders sold a total of 27,188 shares of company stock worth $4,702,223 over the last 90 days. Corporate insiders own 0.49% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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