Broadway Wealth Solutions Inc. Takes Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Broadway Wealth Solutions Inc. bought a new position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 552 shares of the medical research company's stock, valued at approximately $287,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its position in 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 worth $17,297,426,000 after purchasing an additional 196,864 shares during the period. State Street Corp lifted its stake in shares of Thermo Fisher Scientific by 0.8% in 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 acquiring an additional 124,996 shares during the last quarter. Geode Capital Management LLC increased its stake in Thermo Fisher Scientific by 1.7% in 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 purchasing an additional 127,564 shares during the period. Norges Bank bought a new stake in Thermo Fisher Scientific in the fourth quarter valued at approximately $3,149,754,000. Finally, Franklin Resources Inc. grew its holdings in shares of Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company's stock worth $2,935,377,000 after purchasing an additional 262,062 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of brokerages have issued reports on TMO. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price target on the stock in a report on Friday, January 10th. Wells Fargo & Company upped their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Citigroup cut their price objective on Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 4th. Royal Bank of Canada set a $693.00 price target on shares of Thermo Fisher Scientific in a research note on Friday, January 31st. Finally, Bank of America dropped their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating on the stock in a research report on Friday, December 13th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $653.23.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded down $7.37 during trading hours on Tuesday, hitting $490.23. The company's stock had a trading volume of 707,954 shares, compared to its average volume of 1,915,481. The company's 50 day simple moving average is $540.37 and its two-hundred day simple moving average is $551.02. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The company has a market cap of $184.94 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 Inc. has a 12 month low of $484.27 and a 12 month high of $627.88.

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 (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%. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.43 per share. 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 of this dividend is Friday, March 14th. Thermo Fisher Scientific's payout ratio is currently 10.41%.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the 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 directly owns 115,174 shares in the company, valued at approximately $59,506,950.58. This trade represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the sale, the executive vice president now directly owns 16,363 shares of the company's stock, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $13,106,062 in the last quarter. Company insiders own 0.34% of the company's stock.

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.