Nippon Life Global Investors Americas Inc. Sells 26,300 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Nippon Life Global Investors Americas Inc. cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 27.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,220 shares of the medical research company's stock after selling 26,300 shares during the period. Thermo Fisher Scientific comprises approximately 1.7% of Nippon Life Global Investors Americas Inc.'s holdings, making the stock its 18th largest holding. Nippon Life Global Investors Americas Inc.'s holdings in Thermo Fisher Scientific were worth $37,076,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Stonegate Investment Group LLC grew its position in Thermo Fisher Scientific by 0.3% in 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 acquiring an additional 18 shares during the period. Semus Wealth Partners LLC grew its position in Thermo Fisher Scientific by 4.0% in the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company's stock valued at $245,000 after acquiring an additional 18 shares during the period. Bangor Savings Bank grew its position 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 acquiring an additional 19 shares during the period. Eagle Rock Investment Company LLC grew its position in Thermo Fisher Scientific by 0.3% in the fourth quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company's stock valued at $3,882,000 after acquiring an additional 19 shares during the period. Finally, KRS Capital Management LLC grew its holdings in shares of Thermo Fisher Scientific by 1.5% during the fourth quarter. KRS Capital Management LLC now owns 1,317 shares of the medical research company's stock worth $685,000 after purchasing an additional 20 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Trading Down 0.6 %

Shares of Thermo Fisher Scientific stock traded down $2.64 during trading hours on Friday, hitting $424.02. The company's stock had a trading volume of 2,698,284 shares, compared to its average volume of 1,743,532. Thermo Fisher Scientific Inc. has a 12 month low of $409.85 and a 12 month high of $627.88. The stock has a 50 day moving average of $487.28 and a 200 day moving average of $526.70. The company has a market capitalization of $160.06 billion, a PE ratio of 25.65, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86. 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 announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.05. The company had revenue of $10.36 billion during the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. 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 was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, March 14th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.41%. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.09%.

Insider Buying and Selling

In related news, SVP Michael A. Boxer sold 3,775 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction 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 approximately $5,759,736.32. This trade represents a 25.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the transaction, the chief financial officer now directly owns 27,296 shares in the company, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 23,900 shares of company stock worth $13,106,062. 0.33% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

TMO has been the topic of several research analyst reports. Raymond James restated an "outperform" rating and set a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Morgan Stanley increased their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Citigroup decreased their target price on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating on the stock in a report on Tuesday, March 4th. Stifel Nicolaus decreased their target price on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday. Finally, UBS Group cut their price target on Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating on the stock in a research note on Thursday. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and an average price target of $616.95.

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.