First Commonwealth Financial Corp PA Has $803,000 Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

First Commonwealth Financial Corp PA decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 1,544 shares of the medical research company’s stock after selling 23 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Thermo Fisher Scientific were worth $803,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TMO. Barrett & Company Inc. bought a new stake in Thermo Fisher Scientific during the fourth quarter worth $28,000. FPC Investment Advisory Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $28,000. Missouri Trust & Investment Co bought a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. Pillar Financial Advisors LLC bought a new position in shares of Thermo Fisher Scientific in the fourth quarter worth $29,000. Finally, Endeavor Private Wealth Inc. purchased a new position in Thermo Fisher Scientific during the 4th quarter valued at about $30,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have weighed in on TMO. Raymond James reaffirmed an “outperform” rating and issued a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Barclays dropped their price objective on Thermo Fisher Scientific from $620.00 to $475.00 and set an “equal weight” rating for the company in a research note on Thursday, April 10th. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Wells Fargo & Company lifted their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Morgan Stanley increased their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $647.43.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 $175,677.00. Following the sale, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the transaction, the chief executive officer now owns 115,174 shares in the company, valued at $59,506,950.58. The trade was a 7.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have 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

NYSE TMO opened at $436.90 on Thursday. The stock has a 50-day simple moving average of $502.59 and a two-hundred day simple moving average of $536.26. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The firm has a market capitalization of $164.93 billion, a P/E ratio of 26.43, a PEG ratio of 2.99 and a beta of 0.86. Thermo Fisher Scientific Inc. has a fifty-two week low of $409.85 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.39%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend was Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.41%.

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.