Cynosure Group LLC Has $1.02 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cynosure Group LLC raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,655 shares of the medical research company’s stock after purchasing an additional 209 shares during the quarter. Cynosure Group LLC’s holdings in Thermo Fisher Scientific were worth $1,024,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of TMO. Beacon Capital Management LLC increased its position in shares of Thermo Fisher Scientific by 39.4% during the 1st quarter. Beacon Capital Management LLC now owns 198 shares of the medical research company’s stock worth $115,000 after purchasing an additional 56 shares during the last quarter. Montchanin Asset Management LLC acquired a new stake in Thermo Fisher Scientific in the first quarter valued at $2,517,000. Citizens Financial Group Inc. RI increased its stake in shares of Thermo Fisher Scientific by 4.3% during the 1st quarter. Citizens Financial Group Inc. RI now owns 18,882 shares of the medical research company’s stock worth $10,975,000 after purchasing an additional 773 shares during the last quarter. Wahed Invest LLC lifted its stake in Thermo Fisher Scientific by 15.3% in the 1st quarter. Wahed Invest LLC now owns 7,595 shares of the medical research company’s stock valued at $4,414,000 after purchasing an additional 1,008 shares during the last quarter. Finally, LRI Investments LLC acquired a new position in Thermo Fisher Scientific during the first quarter worth approximately $127,000. 89.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 9,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the sale, the chief executive officer now directly owns 14,608 shares in the company, valued at $8,076,178.88. This trade represents a 38.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,150 shares of company stock worth $20,651,865. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on TMO shares. Sanford C. Bernstein reduced their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Robert W. Baird reduced their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Evercore ISI dropped their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Trading Down 0.2 %

TMO opened at $512.99 on Wednesday. The firm has a market capitalization of $196.22 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 3.40 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. Thermo Fisher Scientific Inc. has a fifty-two week low of $480.57 and a fifty-two week high of $627.88. The company’s 50 day moving average price is $571.75 and its two-hundred day moving average price is $579.18.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company posted $5.69 EPS. As a group, research analysts predict that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has initiated a share repurchase program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is presently 9.78%.

Thermo Fisher Scientific Company 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.