Merit Financial Group LLC Trims Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Merit Financial Group LLC reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 20.1% during the 1st quarter, HoldingsChannel reports. The firm owned 498 shares of the medical research company’s stock after selling 125 shares during the period. Merit Financial Group LLC’s holdings in Thermo Fisher Scientific were worth $227,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FIL Ltd boosted its position in Thermo Fisher Scientific by 55.7% during the 4th quarter. FIL Ltd now owns 643,908 shares of the medical research company’s stock valued at $299,919,000 after acquiring an additional 230,381 shares in the last quarter. Berman Capital Advisors LLC boosted its position in Thermo Fisher Scientific by 6.7% during the 4th quarter. Berman Capital Advisors LLC now owns 1,314 shares of the medical research company’s stock valued at $611,000 after acquiring an additional 83 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Thermo Fisher Scientific by 475.8% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 245,816 shares of the medical research company’s stock valued at $114,496,000 after acquiring an additional 203,122 shares in the last quarter. Eaton Vance Management boosted its position in Thermo Fisher Scientific by 22.2% during the 4th quarter. Eaton Vance Management now owns 816,036 shares of the medical research company’s stock valued at $380,093,000 after acquiring an additional 148,429 shares in the last quarter. Finally, Engineers Gate Manager LP boosted its position in Thermo Fisher Scientific by 497.0% during the 4th quarter. Engineers Gate Manager LP now owns 7,863 shares of the medical research company’s stock valued at $3,662,000 after acquiring an additional 6,546 shares in the last quarter. Institutional investors own 85.90% of the company’s stock.

NYSE TMO opened at $514.26 on Thursday. The company’s 50-day moving average is $483.14. The stock has a market cap of $202.12 billion, a price-to-earnings ratio of 25.89, a P/E/G ratio of 1.22 and a beta of 0.76. Thermo Fisher Scientific Inc. has a fifty-two week low of $399.16 and a fifty-two week high of $532.57. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.91.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, April 29th. The medical research company reported $7.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $6.69 by $0.52. The business had revenue of $9.91 billion during the quarter, compared to analyst estimates of $9.69 billion. Thermo Fisher Scientific had a return on equity of 28.95% and a net margin of 22.08%. The company’s revenue was up 59.0% on a year-over-year basis. During the same quarter last year, the business posted $2.94 EPS. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 22.01 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Wednesday, September 15th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, September 14th. This represents a $1.04 annualized dividend and a dividend yield of 0.20%. Thermo Fisher Scientific’s dividend payout ratio is presently 5.32%.

In related news, EVP Michel Lagarde sold 34,168 shares of Thermo Fisher Scientific stock in a transaction dated Friday, May 7th. The stock was sold at an average price of $472.60, for a total value of $16,147,796.80. Following the completion of the transaction, the executive vice president now owns 52,629 shares in the company, valued at approximately $24,872,465.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.44% of the stock is owned by insiders.

TMO has been the subject of a number of recent analyst reports. Evercore ISI raised their price objective on Thermo Fisher Scientific from $525.00 to $540.00 and gave the stock an “outperform” rating in a research report on Friday, April 16th. Benchmark initiated coverage on Thermo Fisher Scientific in a research report on Friday, July 16th. They issued a “buy” rating and a $580.00 price objective for the company. KeyCorp raised their price objective on Thermo Fisher Scientific from $520.00 to $555.00 and gave the stock an “overweight” rating in a research report on Monday, July 12th. Zacks Investment Research cut Thermo Fisher Scientific from a “hold” rating to a “strong sell” rating and set a $491.00 price objective for the company. in a research report on Monday, July 12th. Finally, Robert W. Baird raised their target price on Thermo Fisher Scientific from $545.00 to $550.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 23rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $537.81.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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