Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Corundum Group Inc.

Corundum Group Inc. lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 719 shares of the medical research company’s stock after selling 22 shares during the quarter. Corundum Group Inc.’s holdings in Thermo Fisher Scientific were worth $418,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Northwest Financial Advisors acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $29,000. True Wealth Design LLC increased its holdings in shares of Thermo Fisher Scientific by 1,275.0% in the fourth quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 51 shares during the period. Pineridge Advisors LLC acquired a new position in Thermo Fisher Scientific in the 4th quarter worth approximately $39,000. Cape Investment Advisory Inc. boosted its position in Thermo Fisher Scientific by 52.0% in the 4th quarter. Cape Investment Advisory Inc. now owns 76 shares of the medical research company’s stock worth $40,000 after purchasing an additional 26 shares in the last quarter. Finally, Raleigh Capital Management Inc. increased its holdings 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 valued at $41,000 after purchasing an additional 27 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of analyst reports. The Goldman Sachs Group upped their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. HSBC boosted their price objective on Thermo Fisher Scientific from $660.00 to $670.00 and gave the company a “buy” rating in a research report on Tuesday, April 30th. JPMorgan Chase & Co. boosted their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, April 25th. Citigroup initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, March 18th. They set a “neutral” rating and a $620.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $607.94.

Insider Activity

In other news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of the transaction, the senior vice president now owns 13,083 shares of the company’s stock, valued at approximately $7,430,359.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $567.28, for a total transaction of $5,672,800.00. Following the transaction, the chief executive officer now owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $567.94, for a total value of $1,135,880.00. Following the completion of the transaction, the senior vice president now owns 13,083 shares of the company’s stock, valued at $7,430,359.02. The disclosure for this sale can be found here. In the last three months, insiders sold 22,000 shares of company stock worth $12,532,780. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.5 %

Thermo Fisher Scientific stock traded down $2.68 during midday trading on Thursday, reaching $555.49. The company’s stock had a trading volume of 122,754 shares, compared to its average volume of 1,502,661. The business has a 50-day simple moving average of $574.29 and a 200-day simple moving average of $562.30. The company has a market cap of $212.04 billion, a P/E ratio of 35.79, a P/E/G ratio of 2.60 and a beta of 0.79. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $603.82. The company has a quick ratio of 1.33, a current ratio of 1.70 and a debt-to-equity ratio of 0.68.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.70 by $0.41. Thermo Fisher Scientific had a net margin of 14.20% and a return on equity of 18.45%. The company had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 21.65 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 14th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, June 14th. This represents a $1.56 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s payout ratio is currently 10.01%.

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.