Sawgrass Asset Management LLC Has $2.23 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sawgrass Asset Management LLC decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% in the 4th quarter, HoldingsChannel.com reports. The fund owned 4,209 shares of the medical research company’s stock after selling 117 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $2,234,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Raleigh Capital Management Inc. increased its position in shares of Thermo Fisher Scientific by 49.1% during the third quarter. Raleigh Capital Management Inc. now owns 82 shares of the medical research company’s stock valued at $41,000 after acquiring an additional 27 shares during the last quarter. Cedar Mountain Advisors LLC raised its stake in shares of Thermo Fisher Scientific by 107.0% during the 4th quarter. Cedar Mountain Advisors LLC now owns 89 shares of the medical research company’s stock worth $47,000 after purchasing an additional 46 shares during the period. Operose Advisors LLC increased its holdings in Thermo Fisher Scientific by 250.0% during the third quarter. Operose Advisors LLC now owns 105 shares of the medical research company’s stock worth $53,000 after buying an additional 75 shares during the last quarter. Financial Connections Group Inc. purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at about $53,000. Finally, Valley National Advisers Inc. increased its holdings in Thermo Fisher Scientific by 40.5% in the 3rd 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 last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Up 0.1 %

Shares of NYSE:TMO traded up $0.77 during trading on Wednesday, reaching $573.64. 1,585,506 shares of the stock traded hands, compared to its average volume of 1,549,346. The stock has a market cap of $218.97 billion, a P/E ratio of 36.80, a price-to-earnings-growth ratio of 2.37 and a beta of 0.80. Thermo Fisher Scientific Inc. has a 52-week low of $415.60 and a 52-week high of $603.82. 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 stock has a 50-day moving average of $575.72 and a two-hundred day moving average of $535.12.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, April 24th. The medical research company reported $5.11 EPS for the quarter, topping the consensus estimate of $4.70 by $0.41. The company had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $10.14 billion. Thermo Fisher Scientific had a return on equity of 18.45% and a net margin of 14.20%. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.64 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. Shareholders of record on Friday, March 15th were issued a $0.39 dividend. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.35. The ex-dividend date was Thursday, March 14th. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.01%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a research report on Thursday, April 25th. Royal Bank of Canada lifted their price target on Thermo Fisher Scientific from $592.00 to $642.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. The Goldman Sachs Group upped their target price on Thermo Fisher Scientific from $550.00 to $640.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Barclays boosted their price objective on Thermo Fisher Scientific from $590.00 to $615.00 and gave the company an “equal weight” rating in a research report on Thursday, April 25th. Finally, Robert W. Baird lowered their price target on Thermo Fisher Scientific from $621.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, April 25th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $607.35.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares in the company, valued at $7,430,359.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Marc N. Casper sold 5,547 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $550.62, for a total value of $3,054,289.14. Following the completion of the sale, the chief executive officer now directly owns 43,608 shares of the company’s stock, valued at approximately $24,011,436.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction on Friday, April 26th. The stock was sold at an average price of $567.94, for a total transaction of $1,135,880.00. Following the completion of the sale, the senior vice president now directly owns 13,083 shares of the company’s stock, valued at $7,430,359.02. The disclosure for this sale can be found here. Insiders sold a total of 37,711 shares of company stock worth $21,630,972 in the last three months. 0.34% of the stock is currently owned by company 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.