InTrack Investment Management Inc Reduces Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

InTrack Investment Management Inc reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 368 shares of the medical research company’s stock after selling 50 shares during the period. InTrack Investment Management Inc’s holdings in Thermo Fisher Scientific were worth $214,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of TMO. Northwest Financial Advisors purchased a new position in Thermo Fisher Scientific during the 4th quarter worth $29,000. True Wealth Design LLC lifted its stake in Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock worth $29,000 after acquiring an additional 51 shares during the period. Pineridge Advisors LLC bought a new position in Thermo Fisher Scientific during the 4th quarter worth about $39,000. Cape Investment Advisory Inc. increased its position in Thermo Fisher Scientific by 52.0% during the 4th quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock valued at $40,000 after purchasing an additional 26 shares during the period. Finally, Raleigh Capital Management Inc. lifted its position in shares of Thermo Fisher Scientific by 49.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock worth $41,000 after purchasing an additional 27 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $533.93 on Wednesday. The company has a current ratio of 1.70, a quick ratio of 1.33 and a debt-to-equity ratio of 0.68. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $603.82. The company’s 50 day moving average is $574.71 and its 200 day moving average is $563.50. The company has a market cap of $203.81 billion, a PE ratio of 34.25, a price-to-earnings-growth ratio of 2.58 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The company had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.65 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a $0.39 dividend. The ex-dividend date is Friday, June 14th. This represents a $1.56 annualized dividend and a yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.01%.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the sale, the chief executive officer now owns 123,816 shares in the company, valued at $70,873,516.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of the transaction, the senior vice president now directly owns 13,083 shares in the company, valued at $7,430,359.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $572.41, for a total transaction of $5,724,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at approximately $70,873,516.56. The disclosure for this sale can be found here. Insiders sold a total of 22,000 shares of company stock valued at $12,532,780 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have weighed in on TMO shares. Robert W. Baird lowered their target price on Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, April 25th. Evercore ISI dropped their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating on the stock in a research report on Tuesday. Barclays decreased their price target on shares of Thermo Fisher Scientific from $615.00 to $600.00 and set an “equal weight” rating for the company in a research report on Friday, June 28th. HSBC boosted their price objective on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Finally, Citigroup initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They issued a “neutral” rating and a $620.00 target price for the company. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $606.47.

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.