Kayne Anderson Rudnick Investment Management LLC Sells 3,291 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Kayne Anderson Rudnick Investment Management LLC cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.8% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 18,998 shares of the medical research company’s stock after selling 3,291 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $10,506,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of TMO. Beaumont Financial Advisors LLC raised its stake in shares of Thermo Fisher Scientific by 0.8% in the first quarter. Beaumont Financial Advisors LLC now owns 2,199 shares of the medical research company’s stock worth $1,278,000 after purchasing an additional 17 shares during the last quarter. Cedar Wealth Management LLC boosted its stake in shares of Thermo Fisher Scientific by 14.5% in the first quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock worth $78,000 after acquiring an additional 17 shares during the period. Lafayette Investments Inc. boosted its stake in shares of Thermo Fisher Scientific by 2.1% in the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after acquiring an additional 17 shares during the period. Patrick M Sweeney & Associates Inc. grew its holdings in Thermo Fisher Scientific by 1.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after buying an additional 18 shares in the last quarter. Finally, Drive Wealth Management LLC grew its holdings in Thermo Fisher Scientific by 0.9% during the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock valued at $1,175,000 after buying an additional 18 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $767.00 target price on shares of Thermo Fisher Scientific in a report on Friday. Jefferies Financial Group reaffirmed a “buy” rating and set a $650.00 target price (up from $600.00) on shares of Thermo Fisher Scientific in a research report on Monday, June 3rd. TD Cowen lifted their target price on Thermo Fisher Scientific from $648.00 to $658.00 and gave the company a “buy” rating in a research report on Thursday, July 25th. Stifel Nicolaus boosted their price target on Thermo Fisher Scientific from $615.00 to $680.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Bank of America boosted their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $647.78.

Thermo Fisher Scientific Trading Down 1.1 %

Shares of Thermo Fisher Scientific stock opened at $613.69 on Monday. The business has a 50 day moving average price of $599.56 and a 200 day moving average price of $581.38. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.72 and a quick ratio of 1.37. The company has a market capitalization of $234.26 billion, a P/E ratio of 39.36, a P/E/G ratio of 2.86 and a beta of 0.78. Thermo Fisher Scientific Inc. has a 1 year low of $415.60 and a 1 year high of $627.88.

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

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Friday, September 13th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, September 13th. This represents a $1.56 annualized dividend and a yield of 0.25%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.01%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 123,816 shares in the company, valued at approximately $76,420,473.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CAO Joseph R. Holmes sold 860 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the sale, the chief accounting officer now owns 1,814 shares in the company, valued at approximately $1,108,408.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 123,816 shares of the company’s stock, valued at approximately $76,420,473.36. The disclosure for this sale can be found here. Insiders have sold a total of 23,084 shares of company stock worth $14,094,292 over the last quarter. 0.34% of the stock is 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.