Nuance Investments LLC Sells 1,428 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Nuance Investments LLC has reduced its stake in Thermo Fisher Scientific by 17.8%, selling 1,428 shares, and now holds 6,582 shares worth approximately $3.28 million.
• Thermo Fisher Scientific recently beat earnings estimates with $5.36 EPS compared to a consensus of $5.22, reporting a revenue of $10.86 billion for the quarter.
• In addition to earnings, Thermo Fisher announced a quarterly dividend of $0.43, with an annual yield of 0.4%, to be paid on October 15th.

Nuance Investments LLC reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 17.8% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,582 shares of the medical research company's stock after selling 1,428 shares during the quarter. Nuance Investments LLC's holdings in Thermo Fisher Scientific were worth $3,275,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. Revolve Wealth Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company's stock valued at $255,000 after purchasing an additional 20 shares during the period. Port Capital LLC boosted its stake in shares of Thermo Fisher Scientific by 1.6% during the fourth quarter. Port Capital LLC now owns 1,385 shares of the medical research company's stock valued at $721,000 after purchasing an additional 22 shares during the period. Clark Capital Management Group Inc. boosted its stake in shares of Thermo Fisher Scientific by 0.5% during the fourth quarter. Clark Capital Management Group Inc. now owns 4,445 shares of the medical research company's stock valued at $2,312,000 after purchasing an additional 23 shares during the period. Monograph Wealth Advisors LLC boosted its stake in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Monograph Wealth Advisors LLC now owns 8,656 shares of the medical research company's stock valued at $4,507,000 after purchasing an additional 23 shares during the period. Finally, Intergy Private Wealth LLC lifted its stake in Thermo Fisher Scientific by 5.8% in the first quarter. Intergy Private Wealth LLC now owns 419 shares of the medical research company's stock worth $208,000 after acquiring an additional 23 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

TMO opened at $462.59 on Tuesday. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $627.88. 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 company has a market cap of $174.68 billion, a P/E ratio of 26.75, a price-to-earnings-growth ratio of 2.46 and a beta of 0.74. The firm's 50-day moving average price is $428.13 and its 200-day moving average price is $461.84.

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

Thermo Fisher Scientific Announces Dividend

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

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $451.82, for a total value of $4,518,200.00. Following the transaction, the chief executive officer owned 115,174 shares in the company, valued at approximately $52,037,916.68. This represents a 7.99% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 400 shares of the 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 completion of the transaction, the executive vice president owned 22,367 shares in the company, valued at approximately $10,735,712.66. This trade represents a 1.76% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,400 shares of company stock worth $8,345,792. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Royal Bank Of Canada lowered their price objective on shares of 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. Raymond James Financial reaffirmed an "outperform" rating and issued a $535.00 price objective (up from $525.00) on shares of Thermo Fisher Scientific in a research note on Thursday, July 24th. The Goldman Sachs Group set a $610.00 price objective on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. Finally, UBS Group boosted their target price on shares of Thermo Fisher Scientific from $460.00 to $500.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus 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.

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