Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 50,761 shares of the medical research company’s stock after selling 1,366 shares during the period. Thermo Fisher Scientific comprises approximately 3.0% of Cornerstone Capital Inc.’s holdings, making the stock its 9th biggest position. Cornerstone Capital Inc.’s holdings in Thermo Fisher Scientific were worth $26,943,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raleigh Capital Management Inc. boosted its holdings in shares of Thermo Fisher Scientific by 49.1% in the 3rd quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock valued at $41,000 after buying an additional 27 shares during the period. Cedar Mountain Advisors LLC boosted its holdings in shares of Thermo Fisher Scientific by 107.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 89 shares of the medical research company’s stock valued at $47,000 after buying an additional 46 shares during the period. Financial Connections Group Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter valued at about $53,000. Operose Advisors LLC boosted its stake in Thermo Fisher Scientific by 250.0% during the 3rd quarter. Operose Advisors LLC now owns 105 shares of the medical research company’s stock valued at $53,000 after purchasing an additional 75 shares during the period. Finally, Valley National Advisers Inc. boosted its stake in Thermo Fisher Scientific by 40.5% during the 3rd quarter. Valley National Advisers Inc. now owns 111 shares of the medical research company’s stock valued at $56,000 after purchasing an additional 32 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Up 0.3 %

NYSE TMO opened at $573.60 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.70 and a quick ratio of 1.39. The company’s 50 day simple moving average is $573.60 and its 200 day simple moving average is $530.14. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $603.82. The company has a market capitalization of $218.95 billion, a P/E ratio of 36.79, a PEG ratio of 2.42 and a beta of 0.80.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The business had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.56 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. HSBC boosted their target price on shares of Thermo Fisher Scientific from $630.00 to $660.00 and gave the company a “buy” rating in a research note on Wednesday, April 17th. Royal Bank of Canada boosted their target price on shares of Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a research note on Thursday, February 1st. The Goldman Sachs Group boosted their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Sanford C. Bernstein restated a “market perform” rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. Finally, 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 report on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $606.76.

Insider Activity

In related news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the transaction, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the transaction, the senior vice president now directly owns 12,901 shares of the company’s stock, valued at $7,250,362. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the transaction, the chief executive officer now directly owns 49,155 shares in the company, valued at $27,311,992.65. The disclosure for this sale can be found here. Insiders have sold 50,277 shares of company stock worth $28,513,384 over the last 90 days. 0.32% of the stock is owned by company insiders.

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.