Thermo Fisher Scientific Inc. (NYSE:TMO) Holdings Cut by Family Management Corp

Family Management Corp decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 391 shares of the medical research company’s stock after selling 26 shares during the period. Family Management Corp’s holdings in Thermo Fisher Scientific were worth $203,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth about $3,149,754,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Thermo Fisher Scientific by 86.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company’s stock valued at $1,604,338,000 after buying an additional 1,433,444 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its position in shares of Thermo Fisher Scientific by 1,905.4% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company’s stock worth $469,889,000 after buying an additional 858,193 shares during the period. Proficio Capital Partners LLC increased its position in Thermo Fisher Scientific by 68,617.0% in the 4th quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company’s stock valued at $396,810,000 after acquiring an additional 761,649 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter worth $377,901,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Monday, April 28th. The stock was sold at an average price of $429.93, for a total value of $128,979.00. Following the completion of the sale, the executive vice president now owns 23,167 shares of the company’s stock, valued at approximately $9,960,188.31. The trade was a 1.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific 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 owns 115,174 shares of the company’s stock, valued at $59,506,950.58. This trade represents a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 14,075 shares of company stock valued at $7,305,942 in the last three months. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on TMO. Robert W. Baird cut their price objective on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Raymond James reaffirmed an “outperform” rating and issued a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Scotiabank dropped their target price on Thermo Fisher Scientific from $650.00 to $605.00 and set a “sector perform” rating on the stock in a report on Friday, April 25th. Royal Bank of Canada decreased their price target on Thermo Fisher Scientific from $651.00 to $637.00 and set an “outperform” rating for the company in a research note on Thursday, April 24th. Finally, StockNews.com lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Friday, April 25th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $607.43.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $407.79 on Thursday. The stock has a market cap of $153.94 billion, a PE ratio of 24.67, a price-to-earnings-growth ratio of 2.99 and a beta of 0.82. Thermo Fisher Scientific Inc. has a 12 month low of $404.57 and a 12 month high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $469.19 and a 200-day simple moving average of $517.82.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the company earned $5.11 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal 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. This represents a $1.72 annualized dividend and a dividend yield of 0.42%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.09%.

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.