Cary Street Partners Investment Advisory LLC Has $4.60 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cary Street Partners Investment Advisory LLC lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 68.9% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 8,666 shares of the medical research company’s stock after selling 19,202 shares during the quarter. Thermo Fisher Scientific comprises approximately 1.3% of Cary Street Partners Investment Advisory LLC’s holdings, making the stock its 15th largest position. Cary Street Partners Investment Advisory LLC’s holdings in Thermo Fisher Scientific were worth $4,600,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in TMO. Raleigh Capital Management Inc. grew its position in shares of Thermo Fisher Scientific by 49.1% in the third 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 during the last quarter. Cedar Mountain Advisors LLC increased its position in Thermo Fisher Scientific by 107.0% in the 4th quarter. Cedar Mountain Advisors LLC now owns 89 shares of the medical research company’s stock worth $47,000 after buying an additional 46 shares during the period. Financial Connections Group Inc. acquired a new position in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $53,000. Operose Advisors LLC grew its stake in shares of Thermo Fisher Scientific by 250.0% in the third quarter. Operose Advisors LLC now owns 105 shares of the medical research company’s stock worth $53,000 after acquiring an additional 75 shares during the last quarter. Finally, Valley National Advisers Inc. increased its position in Thermo Fisher Scientific by 40.5% during the third quarter. Valley National Advisers Inc. now owns 111 shares of the medical research company’s stock worth $56,000 after acquiring an additional 32 shares during the period. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Thermo Fisher Scientific news, Director Debora L. Spar sold 164 shares of the company’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $546.97, for a total transaction of $89,703.08. Following the completion of the sale, the director now owns 1,207 shares in the company, valued at approximately $660,192.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Debora L. Spar sold 164 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $546.97, for a total value of $89,703.08. Following the sale, the director now directly owns 1,207 shares in the company, valued at approximately $660,192.79. The sale 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 business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $597.98, for a total transaction of $5,979,800.00. Following the completion of the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at approximately $74,039,491.68. The disclosure for this sale can be found here. Insiders sold a total of 52,277 shares of company stock worth $29,649,264 over the last three months. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TMO has been the topic of several research analyst reports. Citigroup initiated coverage on shares of Thermo Fisher Scientific in a research report on Monday, March 18th. They issued a “neutral” rating and a $620.00 price target on the stock. Evercore ISI lifted their target price on Thermo Fisher Scientific from $575.00 to $610.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. The Goldman Sachs Group raised their price objective on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Sanford C. Bernstein restated a “market perform” rating on shares of Thermo Fisher Scientific in a research report on Monday, January 8th. Finally, Barclays lifted their price target on shares of Thermo Fisher Scientific from $590.00 to $615.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 25th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $607.35.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock traded down $5.24 on Tuesday, reaching $571.65. The company’s stock had a trading volume of 455,152 shares, compared to its average volume of 1,540,998. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $603.82. The company has a market cap of $218.20 billion, a price-to-earnings ratio of 36.69, a PEG ratio of 2.41 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. The business’s fifty day moving average price is $574.18 and its 200 day moving average price is $531.06.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, April 24th. The medical research company reported $5.11 earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.35 billion for the quarter, compared to the consensus estimate of $10.14 billion. Equities analysts expect that Thermo Fisher Scientific Inc. will post 21.56 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Friday, March 15th were given a dividend of $0.39 per share. The ex-dividend date was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. Thermo Fisher Scientific’s payout ratio is presently 10.01%.

About Thermo Fisher Scientific

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.