Procyon Advisors LLC Buys 1,556 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Procyon Advisors LLC increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 13.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,157 shares of the medical research company's stock after purchasing an additional 1,556 shares during the quarter. Procyon Advisors LLC's holdings in Thermo Fisher Scientific were worth $6,547,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bernard Wealth Management Corp. bought a new stake in Thermo Fisher Scientific during the fourth quarter worth $25,000. Barrett & Company Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $28,000. FPC Investment Advisory Inc. purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter worth about $28,000. Pillar Financial Advisors LLC bought a new position in Thermo Fisher Scientific during the fourth quarter valued at about $29,000. Finally, Ameriflex Group Inc. bought a new stake in Thermo Fisher Scientific in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on TMO. Royal Bank of Canada decreased their price target 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. Wall Street Zen raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Wells Fargo & Company dropped their price target on 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. Evercore ISI decreased their price objective on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Argus cut their target price on shares of Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating for the company in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and a consensus price target of $605.30.

Thermo Fisher Scientific Trading Down 1.4%

Thermo Fisher Scientific stock opened at $397.88 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a fifty-two week low of $390.50 and a fifty-two week high of $627.88. The stock has a market cap of $150.20 billion, a P/E ratio of 24.07, a PEG ratio of 2.99 and a beta of 0.78. The firm's fifty day moving average price is $422.35 and its 200-day moving average price is $496.67.

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

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid 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 dividend payout ratio is presently 10.09%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 3,775 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now directly owns 10,816 shares of the company's stock, valued at approximately $5,759,736.32. This trade represents a 25.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction that occurred 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 completion of the sale, the executive vice president now directly owns 23,167 shares of the company's stock, 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. Company insiders own 0.33% of the company's stock.

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.

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