Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Prosperity Consulting Group LLC

Key Points

• Prosperity Consulting Group LLC reduced its stake in Thermo Fisher Scientific by 31.3%, owning now 4,116 shares valued at approximately $2,048,000.
• The medical research company reported earnings of $5.36 per share for the last quarter, exceeding analysts' expectations of $5.22, with a revenue of $10.86 billion.
• Thermo Fisher Scientific has declared a quarterly dividend of $0.43 per share, set to be paid on October 15th, which yields approximately 0.36% annually.

Prosperity Consulting Group LLC cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 31.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,116 shares of the medical research company's stock after selling 1,875 shares during the period. Prosperity Consulting Group LLC's holdings in Thermo Fisher Scientific were worth $2,048,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC lifted its holdings in shares of Thermo Fisher Scientific by 60,610.9% in the first quarter. GAMMA Investing LLC now owns 2,419,331 shares of the medical research company's stock valued at $1,203,859,000 after purchasing an additional 2,415,346 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Thermo Fisher Scientific by 86.9% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,083,900 shares of the medical research company's stock valued at $1,604,338,000 after acquiring an additional 1,433,444 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of Thermo Fisher Scientific by 1,905.4% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 903,232 shares of the medical research company's stock valued at $469,889,000 after buying an additional 858,193 shares during the period. Grantham Mayo Van Otterloo & Co. LLC raised its stake in shares of Thermo Fisher Scientific by 140.7% in the fourth quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 1,093,866 shares of the medical research company's stock valued at $569,062,000 after buying an additional 639,467 shares during the period. Finally, Farallon Capital Management LLC raised its stake in shares of Thermo Fisher Scientific by 73.8% in the fourth quarter. Farallon Capital Management LLC now owns 1,233,256 shares of the medical research company's stock valued at $641,577,000 after buying an additional 523,800 shares during the period. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Trading Down 1.5%

Shares of NYSE:TMO traded down $6.78 during trading hours on Friday, hitting $460.90. 1,665,437 shares of the company's stock traded hands, compared to its average volume of 2,523,647. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $627.88. The business has a fifty day moving average price of $419.50 and a 200-day moving average price of $468.31. The firm has a market capitalization of $173.98 billion, a P/E ratio of 26.67, a price-to-earnings-growth ratio of 2.55 and a beta of 0.77. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.93 and a quick ratio of 1.50.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be paid a $0.43 dividend. 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 payout ratio is 9.95%.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 400 shares of the company's stock in a transaction 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 transaction, the executive vice president directly owned 22,367 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. 0.33% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on TMO shares. Argus dropped their price objective on Thermo Fisher Scientific from $620.00 to $470.00 and set a "buy" rating on the stock in a report on Tuesday, April 29th. Evercore ISI dropped their target price on Thermo Fisher Scientific from $500.00 to $480.00 and set an "outperform" rating for the company in a report on Tuesday, July 8th. Robert W. Baird increased their target price on Thermo Fisher Scientific from $553.00 to $567.00 and gave the company an "outperform" rating in a report on Thursday, July 24th. Wells Fargo & Company dropped their price objective on Thermo Fisher Scientific from $570.00 to $565.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Finally, Wall Street Zen raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Wednesday, May 21st. Six research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and a consensus price target of $593.00.

About Thermo Fisher Scientific

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.