Cypress Asset Management Inc. TX Makes New Investment in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cypress Asset Management Inc. TX purchased a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 2,897 shares of the medical research company’s stock, valued at approximately $1,532,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cypress Advisory Group LLC purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter worth about $253,000. Intact Investment Management Inc. grew its holdings in shares of Thermo Fisher Scientific by 34.0% during the fourth quarter. Intact Investment Management Inc. now owns 2,600 shares of the medical research company’s stock worth $1,353,000 after buying an additional 660 shares during the last quarter. Purkiss Capital Advisors LLC purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter worth about $1,121,000. Fifth Third Bancorp boosted its holdings in Thermo Fisher Scientific by 11.6% in the 4th quarter. Fifth Third Bancorp now owns 335,053 shares of the medical research company’s stock valued at $174,305,000 after purchasing an additional 34,917 shares in the last quarter. Finally, Independence Bank of Kentucky boosted its holdings in Thermo Fisher Scientific by 21.0% in the 4th quarter. Independence Bank of Kentucky now owns 3,825 shares of the medical research company’s stock valued at $1,990,000 after purchasing an additional 663 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $393.53 on Friday. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The firm has a market cap of $148.56 billion, a price-to-earnings ratio of 23.81, a P/E/G ratio of 2.99 and a beta of 0.82. Thermo Fisher Scientific Inc. has a 1 year low of $390.50 and a 1 year high of $627.88. The business has a fifty day simple moving average of $442.54 and a 200 day simple moving average of $504.86.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. The company had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. During the same period last year, the business posted $5.11 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date is Friday, June 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.09%.

Analyst Ratings Changes

TMO has been the topic of a number of analyst reports. Evercore ISI lowered their price objective on Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Argus lowered their price objective on Thermo Fisher Scientific from $620.00 to $470.00 and set a “buy” rating on the stock in a report on Tuesday, April 29th. Robert W. Baird reduced their price target on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Finally, UBS Group reduced their price target on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a “buy” rating for the company in a research report on Thursday, April 24th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $607.43.

Insider Activity

In other news, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction that occurred 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 owns 10,816 shares in the company, valued at approximately $5,759,736.32. The trade was a 25.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the sale, the chief executive officer now directly owns 115,174 shares of the company’s stock, valued at approximately $59,506,950.58. This represents a 7.99% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,075 shares of company stock worth $7,305,942. Insiders own 0.33% of the company’s stock.

About Thermo Fisher Scientific

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.