Cynosure Group LLC Sells 3,329 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Cynosure Group LLC significantly reduced its stake in Thermo Fisher Scientific Inc. by 69.6% in the first quarter, owning now $725,000 worth of shares.
• Wall Street analysts remain optimistic about Thermo Fisher, with a consensus average rating of "Moderate Buy" and target prices ranging from $470.00 to $610.00.
• Thermo Fisher announced a quarterly dividend of $0.43 per share, with an ex-dividend date of September 15th, reflecting a 0.4% yield annually.

Cynosure Group LLC reduced its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 69.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,457 shares of the medical research company's stock after selling 3,329 shares during the quarter. Cynosure Group LLC's holdings in Thermo Fisher Scientific were worth $725,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in TMO. Vanguard Group Inc. increased its position in shares of Thermo Fisher Scientific by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 33,479,957 shares of the medical research company's stock worth $16,659,627,000 after purchasing an additional 230,382 shares in the last quarter. Capital World Investors increased its holdings in shares of Thermo Fisher Scientific by 1.1% during the fourth quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock worth $4,905,812,000 after buying an additional 104,343 shares in the last quarter. Northern Trust Corp raised its stake in shares of Thermo Fisher Scientific by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock valued at $2,034,107,000 after acquiring an additional 455,004 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in Thermo Fisher Scientific by 86.9% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock worth $1,604,338,000 after acquiring an additional 1,433,444 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Thermo Fisher Scientific by 4.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 2,925,591 shares of the medical research company's stock valued at $1,455,774,000 after purchasing an additional 115,463 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $479.98, for a total transaction of $191,992.00. Following the sale, the executive vice president directly owned 22,367 shares in the company, valued at $10,735,712.66. This represents a 1.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $451.82, for a total value of $4,518,200.00. Following the completion of the sale, the chief executive officer owned 115,174 shares in the company, valued at approximately $52,037,916.68. The trade was a 7.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,400 shares of company stock valued at $8,345,792. 0.33% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Stock Performance

TMO traded up $7.21 during midday trading on Wednesday, reaching $484.62. The company had a trading volume of 1,077,674 shares, compared to its average volume of 2,495,400. The company has a quick ratio of 1.50, a current ratio of 1.93 and a debt-to-equity ratio of 0.65. The business has a 50-day moving average of $429.68 and a two-hundred day moving average of $461.95. The company has a market cap of $183.00 billion, a P/E ratio of 28.00, a P/E/G ratio of 2.47 and a beta of 0.74. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The medical research company reported $5.36 EPS for the quarter, topping analysts' consensus estimates of $5.22 by $0.14. The business had revenue of $10.86 billion during the quarter, compared to analysts' expectations of $10.68 billion. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The business's quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.37 earnings per share. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $1.72 dividend on an annualized basis and a yield of 0.4%. Thermo Fisher Scientific's dividend payout ratio is presently 9.95%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on TMO shares. Raymond James Financial restated an "outperform" rating and issued a $535.00 target price (up from $525.00) on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. Stifel Nicolaus reduced their target price on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. The Goldman Sachs Group set a $610.00 price target on shares of Thermo Fisher Scientific and gave the company a "buy" rating in a report on Wednesday, April 23rd. Wall Street Zen downgraded Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a report on Sunday. Finally, Scotiabank raised Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price target on the stock in a research note on Friday, July 11th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $593.00.

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.