Sierra Summit Advisors LLC Sells 8,985 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Key Points

• Sierra Summit Advisors LLC reduced its stake in Thermo Fisher Scientific Inc. by 95.5%, selling 8,985 shares in the first quarter and leaving them with only 420 shares valued at approximately $209,000.
• Recent analyst activity includes downgrades from Wall Street Zen from "buy" to "hold" and Royal Bank of Canada lowering its price target from $651 to $637, while the stock maintains an average rating of "Moderate Buy."
• Thermo Fisher Scientific announced a quarterly dividend of $0.43 per share, with a payout date set for October 15, reflecting a 0.4% dividend yield.

Sierra Summit Advisors LLC lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 95.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 420 shares of the medical research company's stock after selling 8,985 shares during the period. Sierra Summit Advisors LLC's holdings in Thermo Fisher Scientific were worth $209,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its stake in shares of Thermo Fisher Scientific by 28.9% in the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company's stock valued at $2,293,000 after purchasing an additional 988 shares during the last quarter. Revolve Wealth Partners LLC increased its stake in shares of Thermo Fisher Scientific by 4.2% in the 4th 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 last quarter. Bank Pictet & Cie Europe AG increased its stake in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 153,157 shares of the medical research company's stock valued at $79,677,000 after purchasing an additional 461 shares during the last quarter. CenterBook Partners LP boosted its holdings in shares of Thermo Fisher Scientific by 273.8% during the 4th quarter. CenterBook Partners LP now owns 1,327 shares of the medical research company's stock valued at $690,000 after acquiring an additional 972 shares in the last quarter. Finally, Heritage Trust Co acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $612,000. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Trading Up 1.7%

Shares of NYSE:TMO traded up $8.31 during midday trading on Wednesday, reaching $485.72. The company's stock had a trading volume of 2,054,775 shares, compared to its average volume of 2,501,724. The firm has a market capitalization of $183.41 billion, a price-to-earnings ratio of 28.09, a PEG ratio of 2.47 and a beta of 0.74. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.50 and a current ratio of 1.93. The firm has a 50 day moving average price of $429.68 and a two-hundred day moving average price of $461.95. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data 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. Thermo Fisher Scientific had a return on equity of 16.82% and a net margin of 15.24%. The company had revenue of $10.86 billion for the quarter, compared to the consensus estimate of $10.68 billion. During the same period in the previous year, the business earned $5.37 EPS. The firm's revenue was up 2.9% compared to the same quarter last year. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Monday, September 15th will be given a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Monday, September 15th. Thermo Fisher Scientific's payout ratio is presently 9.95%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on TMO shares. Stifel Nicolaus cut their price objective on Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. HSBC reissued a "hold" rating and set a $510.00 price objective on shares of Thermo Fisher Scientific in a report on Thursday, July 24th. Scotiabank raised Thermo Fisher Scientific from a "sector perform" rating to a "sector outperform" rating and set a $590.00 price objective on the stock in a report on Friday, July 11th. Wall Street Zen downgraded Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a report on Sunday. Finally, The Goldman Sachs Group set a $610.00 target price on Thermo Fisher Scientific and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Seven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of "Moderate Buy" and an average target price of $593.00.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the business'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 completion of the sale, the executive vice president directly owned 22,367 shares of the company's stock, valued at approximately $10,735,712.66. The trade was a 1.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 8,000 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $454.45, for a total value of $3,635,600.00. Following the sale, the chief executive officer directly owned 115,174 shares of the company's stock, valued at $52,340,824.30. This represents a 6.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,400 shares of company stock valued at $8,345,792 over the last ninety days. 0.33% of the stock is currently owned by corporate insiders.

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.