Alerus Financial NA cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 75.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,389 shares of the medical research company's stock after selling 7,158 shares during the period. Alerus Financial NA's holdings in Thermo Fisher Scientific were worth $1,243,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Thermo Fisher Scientific by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 33,249,575 shares of the medical research company's stock valued at $17,297,426,000 after acquiring an additional 196,864 shares during the last quarter. State Street Corp lifted its holdings in shares of Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company's stock valued at $10,100,655,000 after purchasing an additional 124,996 shares in the last quarter. Geode Capital Management LLC raised its holdings in Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company's stock worth $4,719,477,000 after buying an additional 127,564 shares during the period. Norges Bank bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $3,149,754,000. Finally, Franklin Resources Inc. raised its position in Thermo Fisher Scientific by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company's stock valued at $2,935,377,000 after buying an additional 262,062 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.
Insider Activity at Thermo Fisher Scientific
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the transaction, the chief executive officer now owns 115,174 shares of the company's stock, valued at $59,506,950.58. This represents a 7.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the sale, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,900 shares of company stock valued at $13,106,062. 0.34% of the stock is owned by insiders.
Thermo Fisher Scientific Price Performance
Shares of NYSE:TMO traded down $7.51 during midday trading on Tuesday, hitting $490.09. The stock had a trading volume of 707,954 shares, compared to its average volume of 1,616,197. The company's 50-day moving average price is $540.37 and its 200-day moving average price is $551.02. Thermo Fisher Scientific Inc. has a fifty-two week low of $484.27 and a fifty-two week high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $184.89 billion, a P/E ratio of 29.66, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating analysts' consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.
Thermo Fisher Scientific Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $0.43 dividend. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.35%. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 10.41%.
Analyst Upgrades and Downgrades
TMO has been the subject of several research reports. Wells Fargo & Company raised their price target on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Morgan Stanley boosted their price target on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Citigroup decreased their target price on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Royal Bank of Canada set a $693.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 31st. Finally, Sanford C. Bernstein upgraded Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price target for the company in a report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of "Moderate Buy" and an average price target of $653.23.
Check Out Our Latest Stock Analysis on Thermo Fisher Scientific
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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