Sawgrass Asset Management LLC Trims Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sawgrass Asset Management LLC cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,209 shares of the medical research company’s stock after selling 117 shares during the period. Sawgrass Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $2,234,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raleigh Capital Management Inc. increased its position in shares of Thermo Fisher Scientific by 49.1% during the 3rd quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock worth $41,000 after purchasing an additional 27 shares during the last quarter. Cedar Mountain Advisors LLC boosted its position in shares of Thermo Fisher Scientific by 107.0% during the fourth quarter. Cedar Mountain Advisors LLC now owns 89 shares of the medical research company’s stock worth $47,000 after buying an additional 46 shares during the period. Operose Advisors LLC raised its holdings in shares of Thermo Fisher Scientific by 250.0% in the 3rd quarter. Operose Advisors LLC now owns 105 shares of the medical research company’s stock valued at $53,000 after buying an additional 75 shares during the period. Financial Connections Group Inc. acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at about $53,000. Finally, Valley National Advisers Inc. lifted its position in shares of Thermo Fisher Scientific by 40.5% during the third quarter. Valley National Advisers Inc. now owns 111 shares of the medical research company’s stock worth $56,000 after purchasing an additional 32 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the subject of several recent research reports. Robert W. Baird decreased their price target on shares of Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. JPMorgan Chase & Co. boosted their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, April 25th. Raymond James increased their price objective on shares of Thermo Fisher Scientific from $515.00 to $605.00 and gave the company an “outperform” rating in a research report on Thursday, February 1st. Barclays upped their price target on Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a report on Thursday, April 25th. Finally, The Goldman Sachs Group upped their target price on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $607.35.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total value of $5,979,800.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $74,039,491.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Marc N. Casper sold 5,547 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $550.62, for a total transaction of $3,054,289.14. Following the transaction, the chief executive officer now owns 43,608 shares of the company’s stock, valued at approximately $24,011,436.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $597.98, for a total value of $5,979,800.00. Following the transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $74,039,491.68. The disclosure for this sale can be found here. Insiders have sold a total of 37,711 shares of company stock valued at $21,630,972 in the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded up $0.77 on Wednesday, hitting $573.64. The stock had a trading volume of 1,585,506 shares, compared to its average volume of 1,549,346. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68. The company’s 50-day moving average is $575.72 and its two-hundred day moving average is $535.12. The stock has a market cap of $218.97 billion, a price-to-earnings ratio of 36.80, a P/E/G ratio of 2.37 and a beta of 0.80. Thermo Fisher Scientific Inc. has a one year low of $415.60 and a one year high of $603.82.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. The business had revenue of $10.35 billion during the quarter, compared to analysts’ expectations of $10.14 billion. On average, analysts expect that Thermo Fisher Scientific Inc. will post 21.64 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.27%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 14th. Thermo Fisher Scientific’s payout ratio is presently 10.01%.

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.