Thermo Fisher Scientific Inc. (NYSE:TMO) Holdings Cut by Prudential Financial Inc.

Prudential Financial Inc. trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 557,449 shares of the medical research company's stock after selling 12,898 shares during the period. Prudential Financial Inc. owned about 0.15% of Thermo Fisher Scientific worth $290,002,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Stonegate Investment Group LLC lifted its stake in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company's stock valued at $3,531,000 after buying an additional 18 shares during the period. Semus Wealth Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 4.0% during the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company's stock worth $245,000 after purchasing an additional 18 shares during the last quarter. Bangor Savings Bank increased its stake in Thermo Fisher Scientific by 6.0% in the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company's stock valued at $174,000 after purchasing an additional 19 shares during the last quarter. Eagle Rock Investment Company LLC lifted its position in Thermo Fisher Scientific by 0.3% during the fourth quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company's stock worth $3,882,000 after buying an additional 19 shares during the period. Finally, KRS Capital Management LLC grew its holdings in Thermo Fisher Scientific by 1.5% in the 4th quarter. KRS Capital Management LLC now owns 1,317 shares of the medical research company's stock valued at $685,000 after buying an additional 20 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the transaction, the executive vice president now owns 16,363 shares in the company, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Michael A. Boxer sold 3,775 shares of the company's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the transaction, the senior vice president now directly owns 10,816 shares in the company, valued at $5,759,736.32. This represents a 25.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock worth $13,106,062 over the last 90 days. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Performance

Shares of TMO traded down $5.91 during trading hours on Friday, reaching $505.78. 362,806 shares of the company's stock traded hands, compared to its average volume of 1,530,195. The firm has a market capitalization of $190.81 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 2.99 and a beta of 0.79. The business's fifty day simple moving average is $542.80 and its two-hundred day simple moving average is $553.64. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping analysts' consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date is Friday, March 14th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's payout ratio is currently 10.41%.

Analyst Ratings Changes

Several brokerages have recently weighed in on TMO. Scotiabank increased their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a "sector perform" rating in a report on Monday, February 3rd. Royal Bank of Canada set a $693.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 31st. Raymond James reaffirmed an "outperform" rating and issued a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. StockNews.com upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, January 14th. Finally, Wells Fargo & Company increased their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $653.23.

Thermo Fisher Scientific 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.