James Investment Research Inc. lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 53.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,566 shares of the medical research company's stock after selling 2,949 shares during the quarter. James Investment Research Inc.'s holdings in Thermo Fisher Scientific were worth $1,335,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. State Street Corp increased its stake in 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 buying an additional 124,996 shares during the period. FMR LLC increased its stake in Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company's stock valued at $4,872,761,000 after buying an additional 1,294,453 shares during the period. 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 valued at $4,719,477,000 after buying an additional 127,564 shares during the period. Franklin Resources Inc. increased its stake in Thermo Fisher Scientific by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company's stock valued at $2,935,377,000 after buying an additional 262,062 shares during the period. Finally, Fisher Asset Management LLC increased its stake in shares of Thermo Fisher Scientific by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company's stock worth $1,630,896,000 after purchasing an additional 65,586 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.
Thermo Fisher Scientific Price Performance
Shares of TMO stock traded up $7.17 during mid-day trading on Thursday, reaching $538.03. The company's stock had a trading volume of 1,967,770 shares, compared to its average volume of 2,101,941. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The company has a market cap of $205.80 billion, a P/E ratio of 32.55, a PEG ratio of 2.91 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The firm's 50-day moving average is $548.10 and its two-hundred day moving average is $568.36.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating 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, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.
Thermo Fisher Scientific Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.32%. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.44%.
Thermo Fisher Scientific announced that its board has authorized a stock repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.
Wall Street Analyst Weigh In
Several research analysts have recently commented on the stock. Royal Bank of Canada dropped 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 note on Thursday, October 24th. UBS Group increased their price target 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. Citigroup increased their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a "neutral" rating in a research note on Friday, January 31st. Barclays decreased their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating for the company in a report on Wednesday, October 23rd. Finally, Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price objective for the company in a report on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $658.00.
Check Out Our Latest Stock Analysis on TMO
Insider Buying and Selling
In related news, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the sale, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the 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 owns 111,192 shares of the company's stock, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock worth $11,231,699 in the last quarter. 0.34% of the stock is owned by corporate 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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