Sheets Smith Wealth Management Sells 1,974 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Sheets Smith Wealth Management lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 59.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,328 shares of the medical research company’s stock after selling 1,974 shares during the period. Sheets Smith Wealth Management’s holdings in Thermo Fisher Scientific were worth $705,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in TMO. W.H. Cornerstone Investments Inc. increased its stake in Thermo Fisher Scientific by 2.6% in the 4th quarter. W.H. Cornerstone Investments Inc. now owns 2,099 shares of the medical research company’s stock worth $1,114,000 after buying an additional 53 shares in the last quarter. Clearstead Trust LLC grew its stake in Thermo Fisher Scientific by 345.6% during the fourth quarter. Clearstead Trust LLC now owns 1,827 shares of the medical research company’s stock valued at $970,000 after acquiring an additional 1,417 shares in the last quarter. Connecticut Wealth Management LLC lifted its stake in Thermo Fisher Scientific by 20.5% in the 4th quarter. Connecticut Wealth Management LLC now owns 4,788 shares of the medical research company’s stock worth $2,541,000 after purchasing an additional 816 shares in the last quarter. Avalon Trust Co increased its holdings in shares of Thermo Fisher Scientific by 1.4% in the fourth quarter. Avalon Trust Co now owns 36,297 shares of the medical research company’s stock worth $19,266,000 after purchasing an additional 495 shares during the last quarter. Finally, National Bank of Canada FI boosted its stake in Thermo Fisher Scientific by 50.3% during the fourth quarter. National Bank of Canada FI now owns 243,727 shares of the medical research company’s stock valued at $132,616,000 after buying an additional 81,618 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock traded up $0.91 during trading on Monday, reaching $573.29. The company had a trading volume of 560,372 shares, compared to its average volume of 1,537,995. The firm’s 50-day simple moving average is $575.39 and its 200 day simple moving average is $533.63. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $603.82. The firm has a market capitalization of $218.83 billion, a PE ratio of 36.71, a price-to-earnings-growth ratio of 2.37 and a beta of 0.80. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.33 and a current ratio of 1.70.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 earnings per share for the quarter, beating analysts’ consensus estimates of $4.70 by $0.41. The company had revenue of $10.35 billion for the quarter, compared to analyst estimates of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.64 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were issued a $0.39 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.01%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total transaction of $5,556,300.00. Following the completion of the sale, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $555.63, for a total value of $5,556,300.00. Following the completion of the transaction, the chief executive officer now directly owns 49,155 shares of the company’s stock, valued at approximately $27,311,992.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Michael A. Boxer sold 14,566 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $562.00, for a total transaction of $8,186,092.00. Following the sale, the senior vice president now owns 12,901 shares in the company, valued at $7,250,362. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 62,277 shares of company stock worth $35,373,364. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. The Goldman Sachs Group increased their price objective on shares of Thermo Fisher Scientific from $550.00 to $640.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Royal Bank of Canada increased their price target on Thermo Fisher Scientific from $592.00 to $642.00 and gave the company an “outperform” rating in a report on Thursday, February 1st. HSBC lifted their price objective on shares of Thermo Fisher Scientific from $660.00 to $670.00 and gave the stock a “buy” rating in a research note on Tuesday, April 30th. Citigroup initiated coverage on shares of Thermo Fisher Scientific in a report on Monday, March 18th. They issued a “neutral” rating and a $620.00 target price for the company. Finally, Evercore ISI increased their price objective on shares of Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Five equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $607.35.

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.