Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Cornerstone Capital Inc.

Cornerstone Capital Inc. trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 46,973 shares of the medical research company’s stock after selling 5,112 shares during the quarter. Thermo Fisher Scientific accounts for approximately 2.6% of Cornerstone Capital Inc.’s investment portfolio, making the stock its 12th biggest holding. Cornerstone Capital Inc.’s holdings in Thermo Fisher Scientific were worth $24,437,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Barrett & Company Inc. acquired a new position in Thermo Fisher Scientific during the 4th quarter worth about $28,000. FPC Investment Advisory Inc. acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $28,000. Pillar Financial Advisors LLC purchased a new stake in Thermo Fisher Scientific in the 4th quarter valued at $29,000. Missouri Trust & Investment Co acquired a new position in Thermo Fisher Scientific in the 4th quarter valued at about $29,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter valued at about $30,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the sale, the executive vice president now owns 16,363 shares of the company’s stock, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michael A. Boxer sold 3,775 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $532.52, for a total value 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 approximately $5,759,736.32. The trade was a 25.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $13,106,062 over the last three months. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Down 2.4 %

Thermo Fisher Scientific stock opened at $426.11 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $409.85 and a 1 year high of $627.88. The firm has a market cap of $160.85 billion, a price-to-earnings ratio of 25.78, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The firm’s 50 day moving average price is $497.67 and its two-hundred day moving average price is $533.64.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.41%.

Analysts Set New Price Targets

A number of research firms have commented on TMO. Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price for the company in a report on Friday, January 10th. Royal Bank of Canada set a $693.00 price target on Thermo Fisher Scientific in a research report on Friday, January 31st. Wells Fargo & Company cut their target price on shares of Thermo Fisher Scientific from $680.00 to $580.00 and set an “overweight” rating for the company in a research report on Thursday. UBS Group lifted their price objective on Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $642.67.

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.