Continuum Advisory LLC Cuts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Continuum Advisory LLC reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) by 5.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,725 shares of the medical research company’s stock after selling 142 shares during the period. Continuum Advisory LLC’s holdings in Thermo Fisher Scientific were worth $1,501,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Thermo Fisher Scientific by 1.3% in the third quarter. Vanguard Group Inc. now owns 32,166,910 shares of the medical research company’s stock worth $16,314,735,000 after purchasing an additional 406,844 shares during the last quarter. BlackRock Inc. lifted its position in shares of Thermo Fisher Scientific by 0.8% in the third quarter. BlackRock Inc. now owns 30,689,762 shares of the medical research company’s stock worth $15,565,540,000 after buying an additional 256,512 shares in the last quarter. State Street Corp raised its position in Thermo Fisher Scientific by 0.8% during the third quarter. State Street Corp now owns 16,158,876 shares of the medical research company’s stock valued at $8,200,398,000 after purchasing an additional 135,437 shares during the period. Fisher Asset Management LLC raised its holdings in shares of Thermo Fisher Scientific by 2.0% in the fourth quarter. Fisher Asset Management LLC now owns 2,351,097 shares of the medical research company’s stock worth $1,294,726,000 after buying an additional 46,035 shares during the period. Finally, Brown Advisory Inc. raised its holdings in shares of Thermo Fisher Scientific by 7.5% in the third quarter. Brown Advisory Inc. now owns 2,199,500 shares of the medical research company’s stock worth $1,115,564,000 after buying an additional 153,451 shares during the period. Institutional investors own 85.92% of the company’s stock.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 1,600 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $534.82, for a total transaction of $855,712.00. Following the completion of the sale, the chief executive officer now owns 141,330 shares in the company, valued at $75,586,110.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 1,600 shares of the stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $534.82, for a total value of $855,712.00. Following the completion of the transaction, the chief executive officer now directly owns 141,330 shares of the company’s stock, valued at $75,586,110.60. 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 Friday, May 5th. The shares were sold at an average price of $545.22, for a total transaction of $5,452,200.00. Following the completion of the sale, the chief executive officer now owns 141,330 shares in the company, valued at $77,055,942.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,100 shares of company stock worth $10,391,587. Corporate insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on TMO. Evercore ISI dropped their target price on Thermo Fisher Scientific from $615.00 to $610.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 4th. Citigroup lowered their price objective on Thermo Fisher Scientific from $700.00 to $650.00 in a research report on Thursday, April 27th. Cowen raised their target price on Thermo Fisher Scientific from $690.00 to $711.00 and gave the stock an “outperform” rating in a research note on Thursday, February 2nd. StockNews.com initiated coverage on Thermo Fisher Scientific in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, SVB Leerink raised their target price on Thermo Fisher Scientific from $620.00 to $630.00 and gave the company an “outperform” rating in a research report on Thursday, February 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average target price of $631.31.

Thermo Fisher Scientific Trading Up 2.2 %

NYSE TMO traded up $11.32 on Friday, reaching $531.96. The stock had a trading volume of 455,574 shares, compared to its average volume of 1,417,503. The firm has a market capitalization of $205.19 billion, a price-to-earnings ratio of 34.68, a P/E/G ratio of 2.54 and a beta of 0.79. The company has a quick ratio of 0.92, a current ratio of 1.27 and a debt-to-equity ratio of 0.69. Thermo Fisher Scientific Inc. has a 12-month low of $475.77 and a 12-month high of $611.06. The stock has a fifty day moving average price of $553.32 and a two-hundred day moving average price of $554.74.

Thermo Fisher Scientific (NYSE:TMO – Get Rating) last announced its earnings results on Wednesday, April 26th. The medical research company reported $5.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $5.03. Thermo Fisher Scientific had a return on equity of 19.16% and a net margin of 13.75%. The company had revenue of $10.71 billion for the quarter, compared to analyst estimates of $10.67 billion. During the same quarter in the previous year, the company earned $7.25 earnings per share. The firm’s quarterly revenue was down 9.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.7 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Investors of record on Thursday, June 15th will be paid a dividend of $0.35 per share. The ex-dividend date is Wednesday, June 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.26%. Thermo Fisher Scientific’s payout ratio is currently 9.13%.

About Thermo Fisher Scientific

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Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.