Procyon Advisors LLC Has $6.04 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Procyon Advisors LLC lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,601 shares of the medical research company’s stock after selling 796 shares during the quarter. Procyon Advisors LLC’s holdings in Thermo Fisher Scientific were worth $6,035,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in Thermo Fisher Scientific in the third quarter valued at about $26,000. Peterson Financial Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the third quarter worth $27,000. Decker Retirement Planning Inc. bought a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at about $43,000. HWG Holdings LP bought a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $50,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Thermo Fisher Scientific in the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the transaction, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value 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 represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock worth $25,954,465 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Up 1.8 %

Thermo Fisher Scientific stock opened at $561.51 on Friday. The firm has a market cap of $214.78 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 3.59 and a beta of 0.76. The firm has a 50 day moving average price of $529.69 and a two-hundred day moving average price of $568.01. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. 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 earnings per share. Equities analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase program on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. Thermo Fisher Scientific’s payout ratio is presently 9.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on TMO shares. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 target price for the company. JPMorgan Chase & Co. raised their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird decreased their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Bank of America lowered their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $648.95.

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.