Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,873 shares of the medical research company's stock after selling 1,014 shares during the period. Kayne Anderson Rudnick Investment Management LLC's holdings in Thermo Fisher Scientific were worth $9,299,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also modified their holdings of TMO. Howard Capital Management Group LLC raised its position in shares of Thermo Fisher Scientific by 0.5% in the third quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company's stock valued at $33,759,000 after buying an additional 286 shares during the last quarter. Principal Financial Group Inc. increased its position in Thermo Fisher Scientific by 22.1% during the third quarter. Principal Financial Group Inc. now owns 1,247,838 shares of the medical research company's stock worth $771,876,000 after purchasing an additional 225,568 shares during the last quarter. Virtu Financial LLC acquired a new stake in Thermo Fisher Scientific during the third quarter worth about $638,000. Anchor Investment Management LLC increased its position in Thermo Fisher Scientific by 1.7% during the third quarter. Anchor Investment Management LLC now owns 11,366 shares of the medical research company's stock worth $7,031,000 after purchasing an additional 195 shares during the last quarter. Finally, World Investment Advisors LLC increased its position in Thermo Fisher Scientific by 3.8% during the third quarter. World Investment Advisors LLC now owns 15,088 shares of the medical research company's stock worth $9,333,000 after purchasing an additional 548 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The shares were 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 directly owns 115,174 shares of the company's stock, valued at approximately $59,506,950.58. This trade represents a 7.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michael A. Boxer sold 3,775 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the completion of the sale, the senior vice president now directly owns 10,816 shares of the company's stock, valued at $5,759,736.32. The trade was a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,900 shares of company stock valued at $13,106,062. 0.33% of the stock is owned by corporate insiders.
Analyst Ratings Changes
Several brokerages have weighed in on TMO. Citigroup lowered their target price on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Robert W. Baird lowered their target price on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an "outperform" rating for the company in a research note on Thursday. Wells Fargo & Company lowered their target price on shares of Thermo Fisher Scientific from $580.00 to $570.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, The Goldman Sachs Group set a $610.00 target price on shares of Thermo Fisher Scientific and gave the stock a "buy" rating in a research note on Wednesday. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $616.95.
Read Our Latest Stock Analysis on Thermo Fisher Scientific
Thermo Fisher Scientific Stock Down 0.6 %
NYSE:TMO traded down $2.64 during mid-day trading on Friday, hitting $424.02. The stock had a trading volume of 2,698,284 shares, compared to its average volume of 1,743,532. The stock has a 50-day simple moving average of $487.28 and a two-hundred day simple moving average of $526.70. The company has a market capitalization of $160.06 billion, a PE ratio of 25.65, a PEG ratio of 2.99 and a beta of 0.86. Thermo Fisher Scientific Inc. has a twelve month low of $409.85 and a twelve month high of $627.88. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data 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. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The company had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.23 billion. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.
Thermo Fisher Scientific Increases Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were issued a dividend of $0.43 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a yield of 0.41%. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.09%.
About Thermo Fisher Scientific
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Free Report)
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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