Everhart Financial Group Inc. lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 46.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,103 shares of the medical research company's stock after selling 953 shares during the period. Everhart Financial Group Inc.'s holdings in Thermo Fisher Scientific were worth $574,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Geode Capital Management LLC lifted its holdings in shares of 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 valued at $4,719,477,000 after purchasing an additional 127,564 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in Thermo Fisher Scientific by 11.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company's stock worth $5,972,000 after buying an additional 995 shares during the period. Greenwood Gearhart Inc. boosted its holdings in shares of Thermo Fisher Scientific by 9.8% in the third quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company's stock valued at $12,730,000 after buying an additional 1,837 shares during the period. Nordea Investment Management AB increased its position in shares of Thermo Fisher Scientific by 23.6% during the fourth quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company's stock worth $28,868,000 after acquiring an additional 10,606 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC lifted its position in Thermo Fisher Scientific by 6.2% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company's stock valued at $5,528,000 after acquiring an additional 618 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several analysts have issued reports on TMO shares. StockNews.com raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th. Citigroup lifted their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. 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 for the company in a research note on Friday, January 10th. Royal Bank of Canada cut their price objective 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, Stifel Nicolaus decreased their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and an average target price of $658.00.
Get Our Latest Analysis on Thermo Fisher Scientific
Insider Activity at Thermo Fisher Scientific
In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the sale, the chief executive officer now directly owns 111,192 shares of the company's stock, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the company's stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the transaction, the chief financial officer now directly owns 27,296 shares of the company's stock, valued at $15,984,264.64. This represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,125 shares of company stock valued at $11,231,699 in the last quarter. Insiders own 0.34% of the company's stock.
Thermo Fisher Scientific Stock Performance
Thermo Fisher Scientific stock traded up $7.17 during trading hours on Thursday, hitting $538.03. The company had a trading volume of 1,967,770 shares, compared to its average volume of 2,101,941. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The firm has a market cap of $205.80 billion, a PE ratio of 32.55, a PEG ratio of 2.91 and a beta of 0.77. The firm has a 50-day moving average of $548.10 and a 200 day moving average of $568.36. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its 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%. On average, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.
Thermo Fisher Scientific Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Thermo Fisher Scientific's previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.32%. Thermo Fisher Scientific's payout ratio is 9.44%.
Thermo Fisher Scientific declared that its Board of Directors has initiated a stock buyback program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.
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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