Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by Carnegie Investment Counsel

Carnegie Investment Counsel lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 58,951 shares of the medical research company's stock after acquiring an additional 726 shares during the period. Thermo Fisher Scientific makes up approximately 0.9% of Carnegie Investment Counsel's investment portfolio, making the stock its 24th largest holding. Carnegie Investment Counsel's holdings in Thermo Fisher Scientific were worth $30,668,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of TMO. Gateway Investment Advisers LLC raised its stake in shares of Thermo Fisher Scientific by 1.3% during the 4th quarter. Gateway Investment Advisers LLC now owns 77,897 shares of the medical research company's stock worth $40,525,000 after buying an additional 1,027 shares during the period. Mirador Capital Partners LP lifted its holdings in Thermo Fisher Scientific by 0.7% during the fourth quarter. Mirador Capital Partners LP now owns 8,549 shares of the medical research company's stock valued at $4,448,000 after purchasing an additional 58 shares in the last quarter. Dixon Mitchell Investment Counsel Inc. increased its stake in shares of Thermo Fisher Scientific by 39.5% during the fourth quarter. Dixon Mitchell Investment Counsel Inc. now owns 110,555 shares of the medical research company's stock worth $57,558,000 after purchasing an additional 31,282 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Thermo Fisher Scientific by 80.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 4,696 shares of the medical research company's stock valued at $2,443,000 after buying an additional 2,094 shares in the last quarter. Finally, RMR Wealth Builders increased its stake in Thermo Fisher Scientific by 15.7% during the 4th quarter. RMR Wealth Builders now owns 2,427 shares of the medical research company's stock worth $1,263,000 after buying an additional 329 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Activity

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the sale, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. The trade was a 13.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares of the company's stock, valued at $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 over the last ninety days. Corporate insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on TMO. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a "buy" rating and a $680.00 target price for the company. Stephens assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an "overweight" rating and a $680.00 target price for the company. StockNews.com raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday. Royal Bank of Canada reduced their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Finally, TD Cowen increased their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and an average price target of $648.95.

Thermo Fisher Scientific Trading Down 0.4 %

TMO stock traded down $1.99 during midday trading on Friday, reaching $559.72. 2,134,669 shares of the company's stock traded hands, compared to its average volume of 2,146,379. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The business has a 50-day moving average price of $529.80 and a two-hundred day moving average price of $567.97. The company has a market capitalization of $214.09 billion, a P/E ratio of 35.09, a PEG ratio of 3.59 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) 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 period in the prior year, the firm earned $5.69 EPS. The firm's quarterly revenue was up .2% compared to the same quarter last year. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's leadership believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were given a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific's payout ratio is currently 9.78%.

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.