AdvisorNet Financial Inc decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,788 shares of the medical research company's stock after selling 1,182 shares during the quarter. AdvisorNet Financial Inc's holdings in Thermo Fisher Scientific were worth $5,092,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in TMO. Granite Bay Wealth Management LLC bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $4,758,000. Benson Investment Management Company Inc. increased its holdings in shares of Thermo Fisher Scientific by 0.7% in the 4th quarter. Benson Investment Management Company Inc. now owns 8,149 shares of the medical research company's stock worth $4,239,000 after purchasing an additional 53 shares in the last quarter. Signet Financial Management LLC bought a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $218,000. Courier Capital LLC boosted its position in shares of Thermo Fisher Scientific by 148.8% during the fourth quarter. Courier Capital LLC now owns 20,914 shares of the medical research company's stock valued at $10,880,000 after buying an additional 12,509 shares during the last quarter. Finally, Pallas Capital Advisors LLC raised its position in Thermo Fisher Scientific by 2.0% in the 4th quarter. Pallas Capital Advisors LLC now owns 11,985 shares of the medical research company's stock worth $6,235,000 after buying an additional 233 shares during the last quarter. 89.23% of the stock is owned by institutional investors.
Thermo Fisher Scientific Price Performance
NYSE TMO traded up $1.97 during trading hours on Tuesday, reaching $557.49. The company's stock had a trading volume of 2,207,390 shares, compared to its average volume of 2,048,593. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The firm's 50-day moving average price is $529.85 and its 200-day moving average price is $568.13. The company has a market capitalization of $213.24 billion, a price-to-earnings ratio of 34.95, a PEG ratio of 3.54 and a beta of 0.76.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts' consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. Thermo Fisher Scientific's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.69 earnings per share. On average, equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.
Thermo Fisher Scientific Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date 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 announced that its Board of Directors has initiated a share repurchase program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's leadership believes its shares are undervalued.
Wall Street Analysts Forecast Growth
TMO has been the subject of several research reports. Wells Fargo & Company decreased their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Scotiabank started coverage on Thermo Fisher Scientific in a research note on Monday, December 23rd. They issued a "sector perform" rating and a $605.00 price target on the stock. Royal Bank of Canada reduced their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Stephens assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an "overweight" rating and a $680.00 price target for the company. Finally, TD Cowen increased their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. 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's stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and a consensus price target of $648.95.
Get Our Latest Analysis on Thermo Fisher Scientific
Insider Buying and Selling at Thermo Fisher Scientific
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Monday, December 2nd. The shares were 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 $58,960,669.92. This trade represents a 8.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction 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. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock worth $25,954,465 in the last quarter. 0.34% of the stock is owned by corporate insiders.
Thermo Fisher Scientific Company 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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