Cornerstone Advisors LLC Sells 100 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Cornerstone Advisors LLC trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,700 shares of the medical research company’s stock after selling 100 shares during the quarter. Cornerstone Advisors LLC’s holdings in Thermo Fisher Scientific were worth $8,682,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. LifeSteps Financial Inc. bought a new stake in shares of Thermo Fisher Scientific during the first quarter worth about $31,000. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at approximately $29,000. Stephens Consulting LLC raised its holdings in Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the last quarter. Finally, True Wealth Design LLC increased its position in Thermo Fisher Scientific by 1,275.0% in the 4th quarter. True Wealth Design LLC now owns 55 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 51 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $617.21, for a total transaction of $6,172,100.00. Following the sale, the chief executive officer now directly owns 123,816 shares in the company, valued at $76,420,473.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Thermo Fisher Scientific news, CAO Joseph R. Holmes sold 860 shares of the stock in a transaction on Friday, July 26th. The stock was sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the transaction, the chief accounting officer now directly owns 1,814 shares of the company’s stock, valued at $1,108,408.42. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $617.21, for a total value of $6,172,100.00. Following the completion of the sale, the chief executive officer now owns 123,816 shares in the company, valued at $76,420,473.36. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,084 shares of company stock worth $14,094,292. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TMO shares. Evercore ISI decreased their price objective on Thermo Fisher Scientific from $615.00 to $600.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Jefferies Financial Group reiterated a “buy” rating and issued a $650.00 target price (up from $600.00) on shares of Thermo Fisher Scientific in a report on Monday, June 3rd. Wells Fargo & Company assumed coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price target on the stock. TD Cowen increased their price objective on shares of Thermo Fisher Scientific from $648.00 to $658.00 and gave the stock a “buy” rating in a research report on Thursday, July 25th. Finally, Robert W. Baird boosted their target price on shares of Thermo Fisher Scientific from $620.00 to $632.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $630.41.

Thermo Fisher Scientific Stock Down 0.5 %

Shares of NYSE TMO opened at $611.17 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88. The stock has a market capitalization of $233.29 billion, a P/E ratio of 39.20, a P/E/G ratio of 2.86 and a beta of 0.78. The company has a 50-day moving average price of $592.10 and a 200-day moving average price of $580.22.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, July 24th. The medical research company reported $5.37 EPS for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The firm had revenue of $10.54 billion during the quarter, compared to analyst estimates of $10.50 billion. The company’s revenue for the quarter was down 1.4% on a year-over-year basis. During the same period in the previous year, the company posted $5.15 EPS. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.72 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.26%. Thermo Fisher Scientific’s payout ratio is 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.