Granite Bay Wealth Management LLC acquired a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 9,145 shares of the medical research company's stock, valued at approximately $4,758,000. Thermo Fisher Scientific accounts for about 1.8% of Granite Bay Wealth Management LLC's holdings, making the stock its 21st biggest position.
Several other institutional investors have also modified their holdings of TMO. Geode Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company's stock valued at $4,719,477,000 after purchasing an additional 127,564 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in shares of Thermo Fisher Scientific by 11.4% during the third quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company's stock valued at $5,972,000 after purchasing an additional 995 shares during the last quarter. Greenwood Gearhart Inc. lifted its holdings in shares of Thermo Fisher Scientific by 9.8% during the third quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company's stock valued at $12,730,000 after purchasing an additional 1,837 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Thermo Fisher Scientific by 23.6% during the fourth quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company's stock valued at $28,868,000 after purchasing an additional 10,606 shares during the last quarter. Finally, Nisa Investment Advisors LLC raised its position in Thermo Fisher Scientific by 6.2% during the third quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company's stock valued at $87,093,000 after buying an additional 8,180 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.
Insiders Place Their Bets
In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares of the company's stock, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the transaction, the chief executive officer now directly owns 111,192 shares of the company's stock, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on TMO. Evercore ISI dropped their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Robert W. Baird dropped their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Sanford C. Bernstein raised Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price target on the stock in a research report on Friday. StockNews.com raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday. Finally, Morgan Stanley dropped their target price on Thermo Fisher Scientific from $670.00 to $647.00 and set an "overweight" rating on the stock in a research report on Monday. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $648.95.
Read Our Latest Stock Analysis on Thermo Fisher Scientific
Thermo Fisher Scientific Stock Performance
NYSE:TMO traded up $1.97 during mid-day trading on Tuesday, hitting $557.49. 2,207,390 shares of the company's stock traded hands, compared to its average volume of 2,048,593. The firm has a 50 day moving average of $529.85 and a two-hundred day moving average of $568.13. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The firm has a market capitalization of $213.24 billion, a price-to-earnings ratio of 34.95, a price-to-earnings-growth ratio of 3.54 and a beta of 0.76. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the prior year, the company earned $5.69 EPS. The firm's revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.
Thermo Fisher Scientific announced that its board has authorized a share buyback plan on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.
Thermo Fisher Scientific Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date of this dividend is 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 Profile
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Free Report)
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.
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