Cornerstone Capital Inc. Lowers Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cornerstone Capital Inc. cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 9.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,973 shares of the medical research company's stock after selling 5,112 shares during the quarter. Thermo Fisher Scientific accounts for about 2.6% of Cornerstone Capital Inc.'s portfolio, making the stock its 12th largest position. Cornerstone Capital Inc.'s holdings in Thermo Fisher Scientific were worth $24,437,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Curi RMB Capital LLC raised its position in Thermo Fisher Scientific by 2.4% in the fourth quarter. Curi RMB Capital LLC now owns 17,901 shares of the medical research company's stock valued at $9,313,000 after purchasing an additional 418 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Thermo Fisher Scientific by 11.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,899,823 shares of the medical research company's stock worth $988,346,000 after purchasing an additional 192,179 shares during the last quarter. First Trust Advisors LP lifted its holdings in Thermo Fisher Scientific by 17.4% during the 4th quarter. First Trust Advisors LP now owns 36,602 shares of the medical research company's stock worth $19,042,000 after buying an additional 5,438 shares during the period. Dnca Finance increased its stake in shares of Thermo Fisher Scientific by 14.2% in the fourth quarter. Dnca Finance now owns 26,600 shares of the medical research company's stock valued at $13,838,000 after buying an additional 3,300 shares during the period. Finally, Ecofi Investissements SA boosted its stake in shares of Thermo Fisher Scientific by 2.4% in the 4th quarter. Ecofi Investissements SA now owns 17,050 shares of the medical research company's stock valued at $8,218,000 after purchasing an additional 400 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Activity at Thermo Fisher Scientific

In other news, CFO Stephen Williamson sold 9,825 shares of the business's stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the transaction, the chief financial officer now directly owns 27,296 shares of the company's stock, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the sale, the senior vice president now directly owns 10,816 shares of the company's stock, valued at $5,759,736.32. The trade was a 25.87 % decrease in their position. 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. Company insiders own 0.34% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Evercore ISI decreased their price objective on Thermo Fisher Scientific from $585.00 to $500.00 and set an "outperform" rating for the company in a report on Thursday. Stifel Nicolaus lowered their target price on shares of Thermo Fisher Scientific from $665.00 to $620.00 and set a "buy" rating on the stock in a report on Thursday. Citigroup lowered their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Scotiabank upped their price target on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a "sector perform" rating in a report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $621.23.

Thermo Fisher Scientific Price Performance

NYSE TMO traded down $10.47 during trading on Thursday, reaching $421.17. The company's stock had a trading volume of 2,364,259 shares, compared to its average volume of 2,173,373. The stock has a market capitalization of $158.99 billion, a PE ratio of 25.48, a P/E/G ratio of 2.99 and a beta of 0.86. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The firm has a fifty day moving average of $491.37 and a 200 day moving average of $530.03. Thermo Fisher Scientific Inc. has a one year low of $409.85 and a one year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The medical research company reported $5.15 EPS for the quarter, topping analysts' consensus estimates of $5.10 by $0.05. The business had revenue of $10.36 billion for the quarter, compared to analysts' expectations of $10.23 billion. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th were paid a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.41%. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. The ex-dividend date was Friday, March 14th. Thermo Fisher Scientific's dividend payout ratio is 10.41%.

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.