KMG Fiduciary Partners LLC raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 14.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,535 shares of the medical research company's stock after purchasing an additional 567 shares during the period. KMG Fiduciary Partners LLC's holdings in Thermo Fisher Scientific were worth $2,359,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. WINTON GROUP Ltd acquired a new stake in Thermo Fisher Scientific during the second quarter worth about $332,000. Mercer Global Advisors Inc. ADV increased its position in Thermo Fisher Scientific by 37.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 35,467 shares of the medical research company's stock worth $19,522,000 after purchasing an additional 9,656 shares in the last quarter. Seven Eight Capital LP lifted its position in Thermo Fisher Scientific by 29.4% during the second quarter. Seven Eight Capital LP now owns 2,586 shares of the medical research company's stock valued at $1,430,000 after buying an additional 588 shares in the last quarter. Paces Ferry Wealth Advisors LLC purchased a new stake in Thermo Fisher Scientific during the second quarter worth approximately $213,000. Finally, Foresight Group Ltd Liability Partnership purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $259,000. Hedge funds and other institutional investors own 89.23% of the company's stock.
Thermo Fisher Scientific Stock Performance
TMO stock traded down $1.41 during midday trading on Friday, reaching $560.30. The company had a trading volume of 1,408,587 shares, compared to its average volume of 2,069,464. The firm has a market capitalization of $214.32 billion, a PE ratio of 35.20, a P/E/G ratio of 3.59 and a beta of 0.76. The stock has a 50 day moving average price of $529.69 and a 200 day moving average price of $568.01. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm's revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the company earned $5.69 earnings per share. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.
Thermo Fisher Scientific declared that its Board of Directors has initiated a stock buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.
Thermo Fisher Scientific Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.78%.
Insiders Place Their Bets
In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares of the company's stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of analysts recently weighed in on the stock. Stifel Nicolaus decreased their price target 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. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 target price for the company in a research note on Friday, January 10th. Bernstein Bank upped their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. Bank of America dropped their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating on the stock in a research note on Friday, December 13th. Finally, Robert W. Baird lowered their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $648.95.
Check Out Our Latest Research Report on Thermo Fisher Scientific
Thermo Fisher Scientific Profile
(
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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