Allstate Corp boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3,264.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,371 shares of the medical research company's stock after buying an additional 11,033 shares during the period. Allstate Corp's holdings in Thermo Fisher Scientific were worth $5,916,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the stock. Legacy Investment Solutions LLC bought a new position in Thermo Fisher Scientific during the third quarter valued at about $26,000. Barrett & Company Inc. bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at about $28,000. FPC Investment Advisory Inc. bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $28,000. Missouri Trust & Investment Co acquired a new stake in Thermo Fisher Scientific during the fourth quarter valued at approximately $29,000. Finally, Pillar Financial Advisors LLC bought a new stake in Thermo Fisher Scientific during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 89.23% of the company's stock.
Thermo Fisher Scientific Stock Down 3.0 %
Shares of NYSE TMO traded down $15.09 during trading hours on Tuesday, hitting $482.51. The stock had a trading volume of 1,826,854 shares, compared to its average volume of 1,620,448. The company has a market capitalization of $182.03 billion, a P/E ratio of 29.19, a P/E/G ratio of 2.99 and a beta of 0.79. The firm's 50-day moving average price is $540.37 and its two-hundred day moving average price is $551.02. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a 52 week low of $481.47 and a 52 week high of $627.88.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Analysts anticipate 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 dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.36%. The ex-dividend date is Friday, March 14th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's dividend payout ratio is 10.41%.
Analyst Ratings Changes
A number of equities research analysts have recently commented on TMO shares. Citigroup cut their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a research report on Tuesday, March 4th. StockNews.com raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, January 14th. Bank of America cut their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating on the stock in a report on Friday, December 13th. Scotiabank raised their target price on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a "sector perform" rating in a report on Monday, February 3rd. Finally, Morgan Stanley boosted their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and a consensus target price of $653.23.
View Our Latest Analysis on TMO
Insider Activity
In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the transaction, the chief executive officer now owns 115,174 shares of the company's stock, valued at $59,506,950.58. This trade represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the sale, the senior vice president now directly owns 10,816 shares of the company's stock, valued at approximately $5,759,736.32. This represents a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,900 shares of company stock valued at $13,106,062. Insiders own 0.34% of the company's stock.
About Thermo Fisher Scientific
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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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