Beacon Pointe Advisors LLC Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Beacon Pointe Advisors LLC cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,707 shares of the medical research company’s stock after selling 4,597 shares during the quarter. Beacon Pointe Advisors LLC’s holdings in Thermo Fisher Scientific were worth $15,975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of TMO. Howard Capital Management Group LLC increased its position in Thermo Fisher Scientific by 0.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company’s stock valued at $33,759,000 after purchasing an additional 286 shares during the period. Principal Financial Group Inc. increased its position in Thermo Fisher Scientific by 22.1% during the 3rd quarter. Principal Financial Group Inc. now owns 1,247,838 shares of the medical research company’s stock valued at $771,876,000 after purchasing an additional 225,568 shares during the period. Virtu Financial LLC purchased a new position in Thermo Fisher Scientific during the 3rd quarter valued at $638,000. Anchor Investment Management LLC increased its position in Thermo Fisher Scientific by 1.7% during the 3rd quarter. Anchor Investment Management LLC now owns 11,366 shares of the medical research company’s stock valued at $7,031,000 after purchasing an additional 195 shares during the period. Finally, World Investment Advisors LLC increased its position in Thermo Fisher Scientific by 3.8% during the 3rd quarter. World Investment Advisors LLC now owns 15,088 shares of the medical research company’s stock valued at $9,333,000 after purchasing an additional 548 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.6 %

Thermo Fisher Scientific stock opened at $421.55 on Tuesday. The firm has a 50 day moving average of $485.08 and a 200 day moving average of $525.48. The firm has a market capitalization of $159.13 billion, a price-to-earnings ratio of 25.50, a P/E/G ratio of 2.99 and a beta of 0.86. Thermo Fisher Scientific Inc. has a 12-month low of $409.85 and a 12-month high of $627.88. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, April 23rd. The medical research company reported $5.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.10 by $0.05. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. The company had revenue of $10.36 billion during the quarter, compared to analyst estimates of $10.23 billion. During the same period in the prior year, the firm posted $5.11 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th were paid a $0.43 dividend. The ex-dividend date was Friday, March 14th. This represents a $1.72 annualized dividend and a yield of 0.41%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s payout ratio is presently 10.09%.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of research analyst reports. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective on the stock in a research report on Friday, January 10th. Evercore ISI dropped their target price on shares of Thermo Fisher Scientific from $585.00 to $500.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Citigroup dropped their target price on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a report on Tuesday, March 4th. Robert W. Baird dropped their target price on shares of Thermo Fisher Scientific from $603.00 to $573.00 and set an “outperform” rating on the stock in a report on Thursday, April 24th. Finally, Scotiabank dropped their target price on shares of Thermo Fisher Scientific from $650.00 to $605.00 and set a “sector perform” rating on the stock in a report on Friday. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $616.95.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the sale, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $59,506,950.58. This represents a 7.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the sale, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock worth $13,106,062 in the last 90 days. 0.33% of the stock is currently owned by corporate insiders.

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.