Procyon Advisors LLC Sells 796 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Procyon Advisors LLC lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 6.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 11,601 shares of the medical research company's stock after selling 796 shares during the period. Procyon Advisors LLC's holdings in Thermo Fisher Scientific were worth $6,035,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. International Assets Investment Management LLC raised its position in Thermo Fisher Scientific by 76,051.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company's stock valued at $876,152,000 after buying an additional 1,414,556 shares during the last quarter. FMR LLC raised its holdings in shares of Thermo Fisher Scientific by 19.7% in the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company's stock valued at $4,872,761,000 after purchasing an additional 1,294,453 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Thermo Fisher Scientific by 32.2% during the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company's stock worth $1,372,157,000 after purchasing an additional 604,895 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Thermo Fisher Scientific in the 3rd quarter worth about $254,412,000. Finally, Point72 Asset Management L.P. lifted its position in shares of Thermo Fisher Scientific by 743.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company's stock worth $186,105,000 after buying an additional 296,646 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on TMO shares. Evercore ISI decreased their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Robert W. Baird lowered their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. StockNews.com upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday. Scotiabank assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, December 23rd. They issued a "sector perform" rating and a $605.00 price objective on the stock. Finally, Barclays decreased their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and a consensus price target of $648.95.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred 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 represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,150 shares of company stock valued at $25,954,465. Company insiders own 0.34% of the company's stock.

Thermo Fisher Scientific Trading Down 0.4 %

Shares of NYSE:TMO traded down $1.99 on Friday, reaching $559.72. 2,134,669 shares of the company traded hands, compared to its average volume of 1,426,114. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The business's 50-day simple moving average is $529.96 and its 200 day simple moving average is $568.09. The stock has a market capitalization of $214.09 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 3.59 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced 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 for the quarter, compared to analysts' expectations of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business's quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.69 EPS. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were given a $0.39 dividend. The ex-dividend date of this dividend 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 dividend payout ratio is currently 9.78%.

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 usually an indication that the company's board believes its stock is undervalued.

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.