Cypress Asset Management Inc. TX Takes Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cypress Asset Management Inc. TX bought a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,897 shares of the medical research company's stock, valued at approximately $1,532,000.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in Thermo Fisher Scientific by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company's stock worth $17,297,426,000 after acquiring an additional 196,864 shares during the last quarter. Capital World Investors boosted its stake in shares of Thermo Fisher Scientific by 1.1% in the fourth quarter. Capital World Investors now owns 9,430,120 shares of the medical research company's stock valued at $4,905,812,000 after buying an additional 104,343 shares during the period. Geode Capital Management LLC grew its position in Thermo Fisher Scientific by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 7,857,385 shares of the medical research company's stock worth $4,075,540,000 after buying an additional 197,442 shares in the last quarter. Norges Bank acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at $3,149,754,000. Finally, Northern Trust Corp grew its holdings in shares of Thermo Fisher Scientific by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,910,015 shares of the medical research company's stock worth $2,034,107,000 after purchasing an additional 455,004 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the transaction, the chief executive officer now owns 115,174 shares in the company, valued at approximately $59,506,950.58. This trade represents a 7.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction 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 transaction, the executive vice president now owns 23,167 shares in the company, valued at approximately $9,960,188.31. This represents a 1.28% decrease in their position. 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 ninety days. 0.33% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TMO has been the topic of several analyst reports. UBS Group reduced their price target on shares of Thermo Fisher Scientific from $715.00 to $500.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Argus dropped their price objective on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a report on Tuesday, April 29th. Wells Fargo & Company dropped their target price on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating on the stock in a research report on Thursday, April 24th. Raymond James reaffirmed an "outperform" rating and set a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Finally, Stifel Nicolaus reduced their target price on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $607.43.

Thermo Fisher Scientific Stock Down 0.4%

NYSE TMO traded down $1.82 during midday trading on Friday, hitting $401.93. 869,762 shares of the company traded hands, compared to its average volume of 1,875,539. The company's 50-day simple moving average is $433.07 and its 200-day simple moving average is $501.01. Thermo Fisher Scientific Inc. has a 52 week low of $390.50 and a 52 week high of $627.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The company has a market cap of $151.73 billion, a PE ratio of 24.31, a price-to-earnings-growth ratio of 2.99 and a beta of 0.82.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.10 by $0.05. The firm had revenue of $10.36 billion for the quarter, compared to the consensus estimate of $10.23 billion. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The company's quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.11 EPS. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Friday, June 13th will be issued a $0.43 dividend. The ex-dividend date is Friday, June 13th. This represents a $1.72 dividend on an annualized basis and a yield of 0.43%. Thermo Fisher Scientific's payout ratio is 10.09%.

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.