Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.7% in the first quarter, HoldingsChannel.com reports. The firm owned 2,886 shares of the medical research company’s stock after acquiring an additional 254 shares during the period. Cypress Asset Management Inc. TX’s holdings in Thermo Fisher Scientific were worth $1,705,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its stake in Thermo Fisher Scientific by 5.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,377 shares of the medical research company’s stock valued at $784,000 after buying an additional 65 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in Thermo Fisher Scientific by 54.9% in the first quarter. Westwood Holdings Group Inc. now owns 1,233 shares of the medical research company’s stock valued at $717,000 after buying an additional 437 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its stake in Thermo Fisher Scientific by 10.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 767,218 shares of the medical research company’s stock valued at $442,884,000 after buying an additional 71,066 shares during the last quarter. Pathway Financial Advisers LLC bought a new stake in shares of Thermo Fisher Scientific during the first quarter valued at about $824,000. Finally, Cetera Advisor Networks LLC raised its stake in shares of Thermo Fisher Scientific by 5.1% during the first quarter. Cetera Advisor Networks LLC now owns 28,845 shares of the medical research company’s stock valued at $16,765,000 after purchasing an additional 1,404 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock traded down $6.08 during trading hours on Friday, reaching $615.69. 1,564,731 shares of the company were exchanged, compared to its average volume of 1,701,727. Thermo Fisher Scientific Inc. has a 12 month low of $415.60 and a 12 month high of $622.30. The company has a current ratio of 1.72, a quick ratio of 1.37 and a debt-to-equity ratio of 0.64. The firm has a market cap of $235.02 billion, a price-to-earnings ratio of 39.49, a PEG ratio of 2.89 and a beta of 0.77. The stock has a 50-day moving average of $565.52 and a 200 day moving average of $568.08.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 earnings per share for the quarter, beating the consensus estimate of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The company had revenue of $10.54 billion during the quarter, compared to analysts’ expectations of $10.50 billion. During the same period in the prior year, the business earned $5.15 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was down 1.4% compared to the same quarter last year. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.71 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio is 10.01%.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value of $5,672,800.00. Following the completion of the transaction, the chief executive officer now directly owns 123,816 shares of the company’s stock, valued at $70,238,340.48. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $600.85, for a total transaction of $180,255.00. Following the completion of the transaction, the executive vice president now directly owns 17,887 shares in the company, valued at $10,747,403.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $567.28, for a total value 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 disclosure for this sale can be found here. Insiders sold a total of 33,084 shares of company stock valued at $19,767,092 over the last ninety days. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

TMO has been the topic of a number of recent analyst reports. Royal Bank of Canada lifted their price objective on shares of Thermo Fisher Scientific from $660.00 to $664.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Thermo Fisher Scientific from $600.00 to $610.00 and gave the stock a “buy” rating in a research report on Thursday, April 25th. Stifel Nicolaus boosted their price target on shares of Thermo Fisher Scientific from $600.00 to $615.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Jefferies Financial Group reiterated a “buy” rating and issued a $650.00 price target (up from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. Finally, Robert W. Baird lifted their price target on Thermo Fisher Scientific from $620.00 to $632.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Five investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target of $618.94.

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.