Magnetar Financial LLC lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 125,937 shares of the medical research company's stock after selling 2,674 shares during the quarter. Thermo Fisher Scientific makes up about 1.6% of Magnetar Financial LLC's portfolio, making the stock its 14th biggest position. Magnetar Financial LLC's holdings in Thermo Fisher Scientific were worth $65,516,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the company. Howard Capital Management Group LLC lifted its holdings in Thermo Fisher Scientific by 0.5% during the third quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company's stock worth $33,759,000 after buying an additional 286 shares during the period. Principal Financial Group Inc. boosted its position in Thermo Fisher Scientific by 22.1% during the third quarter. Principal Financial Group Inc. now owns 1,247,838 shares of the medical research company's stock valued at $771,876,000 after purchasing an additional 225,568 shares in the last quarter. Prospera Financial Services Inc grew its stake in Thermo Fisher Scientific by 19.6% in the third quarter. Prospera Financial Services Inc now owns 4,549 shares of the medical research company's stock valued at $2,816,000 after purchasing an additional 746 shares during the last quarter. Avior Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific by 0.8% during the third quarter. Avior Wealth Management LLC now owns 3,956 shares of the medical research company's stock valued at $2,447,000 after buying an additional 30 shares during the last quarter. Finally, Prospera Private Wealth LLC boosted its holdings in shares of Thermo Fisher Scientific by 1,868.3% in the 3rd quarter. Prospera Private Wealth LLC now owns 9,940 shares of the medical research company's stock valued at $6,149,000 after buying an additional 9,435 shares in the last quarter. 89.23% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
Several brokerages have weighed in on TMO. StockNews.com upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th. Bank of America reduced their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating on the stock in a research report on Friday, December 13th. Morgan Stanley boosted their price target on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Royal Bank of Canada set a $693.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 31st. Finally, Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price target on the stock in a research note on Friday, January 10th. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $653.23.
Check Out Our Latest Stock Analysis on Thermo Fisher Scientific
Thermo Fisher Scientific Price Performance
TMO stock traded up $2.53 during mid-day trading on Monday, reaching $520.25. 1,099,952 shares of the company's stock were exchanged, compared to its average volume of 1,538,823. The company has a market cap of $196.27 billion, a price-to-earnings ratio of 31.47, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The stock's 50 day moving average is $546.15 and its 200 day moving average is $555.52. 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 issued its quarterly 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, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS 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. Shareholders of record on Friday, March 14th will be issued a dividend of $0.43 per share. The ex-dividend date is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.33%. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's dividend payout ratio is presently 10.41%.
Insider Activity
In related news, CFO Stephen Williamson sold 9,825 shares of the business's 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 transaction, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the sale, the executive vice president now owns 16,363 shares of the company's stock, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,900 shares of company stock worth $13,106,062 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.
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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