Freedom Day Solutions LLC reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 17.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,796 shares of the medical research company's stock after selling 777 shares during the period. Freedom Day Solutions LLC's holdings in Thermo Fisher Scientific were worth $1,975,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in Thermo Fisher Scientific during the third quarter worth about $26,000. Peterson Financial Group Inc. purchased a new stake in Thermo Fisher Scientific during the third quarter worth about $27,000. Barrett & Company Inc. purchased a new stake in Thermo Fisher Scientific during the fourth quarter worth about $28,000. Missouri Trust & Investment Co purchased a new stake in Thermo Fisher Scientific during the fourth quarter worth about $29,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in Thermo Fisher Scientific during the fourth quarter worth about $30,000. 89.23% of the stock is owned by institutional investors.
Thermo Fisher Scientific Trading Down 0.8 %
Thermo Fisher Scientific stock traded down $4.20 during mid-day trading on Friday, reaching $533.63. 902,026 shares of the company traded hands, compared to its average volume of 2,063,640. 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 firm's 50 day moving average price is $548.36 and its 200 day moving average price is $568.15. The firm has a market capitalization of $204.11 billion, a price-to-earnings ratio of 32.31, a P/E/G ratio of 2.95 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts' consensus estimates 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, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.
Thermo Fisher Scientific Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a $0.43 dividend. The ex-dividend date is Friday, March 14th. 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 0.32%. Thermo Fisher Scientific's dividend payout ratio is currently 9.44%.
Thermo Fisher Scientific declared that its board has initiated a stock buyback plan on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.
Analyst Ratings Changes
Several equities analysts have recently weighed in on TMO shares. Evercore ISI reduced their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. StockNews.com upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th. UBS Group lifted their target price on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a "buy" rating in a research note on Friday, January 31st. Robert W. Baird reduced their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Finally, Stifel Nicolaus reduced their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating for the company in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company's stock. According to MarketBeat, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and a consensus target price of $658.00.
Get Our Latest Stock Analysis on Thermo Fisher Scientific
Insider Transactions at Thermo Fisher Scientific
In related news, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the transaction, the chief executive officer now owns 111,192 shares in the company, valued at $58,960,669.92. The trade was a 8.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the company's stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the transaction, the chief financial officer now owns 27,296 shares in the company, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,125 shares of company stock valued at $11,231,699 in the last three months. 0.34% of the stock is currently owned by company insiders.
Thermo Fisher Scientific 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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