Procyon Advisors LLC Sells 673 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Procyon Advisors LLC reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,950 shares of the medical research company’s stock after selling 673 shares during the quarter. Procyon Advisors LLC’s holdings in Thermo Fisher Scientific were worth $5,281,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC lifted its holdings in shares of Thermo Fisher Scientific by 104,536.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 8,355,245 shares of the medical research company’s stock valued at $4,601,150,000 after buying an additional 8,347,260 shares during the period. Providence Capital Advisors LLC boosted its position in Thermo Fisher Scientific by 61,754.7% in the 1st quarter. Providence Capital Advisors LLC now owns 5,842,175 shares of the medical research company’s stock worth $10,136,000 after purchasing an additional 5,832,730 shares in the last quarter. Norges Bank purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $3,105,677,000. Morgan Stanley grew its position in Thermo Fisher Scientific by 17.7% during the fourth quarter. Morgan Stanley now owns 11,730,063 shares of the medical research company’s stock valued at $6,459,629,000 after buying an additional 1,764,312 shares during the period. Finally, Loomis Sayles & Co. L P lifted its position in shares of Thermo Fisher Scientific by 17,046.7% in the third quarter. Loomis Sayles & Co. L P now owns 973,591 shares of the medical research company’s stock valued at $492,803,000 after acquiring an additional 967,913 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO traded up $1.87 on Thursday, hitting $581.24. 125,336 shares of the company were exchanged, compared to its average volume of 1,602,185. The business’s fifty day moving average is $564.32 and its 200 day moving average is $519.80. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $603.82. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.39 and a current ratio of 1.75. The firm has a market capitalization of $221.63 billion, a P/E ratio of 37.50, a price-to-earnings-growth ratio of 2.39 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, January 31st. The medical research company reported $5.67 EPS for the quarter, beating analysts’ consensus estimates of $5.64 by $0.03. Thermo Fisher Scientific had a return on equity of 18.78% and a net margin of 13.99%. The business had revenue of $10.89 billion for the quarter, compared to analyst estimates of $10.73 billion. During the same quarter last year, the company earned $5.40 earnings per share. The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.52 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 15th will be paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Thursday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio is currently 10.10%.

Insider Activity

In related news, Director Debora L. Spar sold 164 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the sale, the director now owns 1,207 shares of the company’s stock, valued at approximately $660,192.79. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $546.97, for a total value of $89,703.08. Following the completion of the transaction, the director now owns 1,207 shares in the company, valued at approximately $660,192.79. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the completion of the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $74,039,491.68. The disclosure for this sale can be found here. Insiders sold a total of 50,277 shares of company stock valued at $28,513,384 over the last quarter. Company insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on TMO shares. Sanford C. Bernstein restated a “market perform” rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. TheStreet raised shares of Thermo Fisher Scientific from a “c+” rating to a “b-” rating in a research report on Friday, December 22nd. Barclays downgraded shares of Thermo Fisher Scientific from an “overweight” rating to an “equal weight” rating and upped their target price for the stock from $475.00 to $555.00 in a research note on Wednesday, January 24th. Raymond James boosted their price target on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. Finally, Citigroup started coverage on Thermo Fisher Scientific in a research note on Monday, March 18th. They set a “neutral” rating and a $620.00 target price for the company. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $599.00.

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.