Meridiem Investment Management Ltd. lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 14.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 631,856 shares of the medical research company's stock after buying an additional 79,555 shares during the quarter. Thermo Fisher Scientific makes up about 5.9% of Meridiem Investment Management Ltd.'s holdings, making the stock its 3rd biggest holding. Meridiem Investment Management Ltd. owned 0.17% of Thermo Fisher Scientific worth $328,719,000 at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of TMO. Legacy Investment Solutions LLC bought a new position in Thermo Fisher Scientific in the 3rd quarter worth about $26,000. Peterson Financial Group Inc. bought a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $27,000. Barrett & Company Inc. bought a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $28,000. Missouri Trust & Investment Co bought a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $29,000. Finally, Endeavor Private Wealth Inc. bought a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $30,000. Institutional investors own 89.23% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently weighed in on TMO. Barclays lowered their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 23rd. Bank of America reduced their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating for the company in a report on Friday, December 13th. Citigroup increased their target price on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a "neutral" rating in a report on Friday, January 31st. Royal Bank of Canada reduced their target price on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Finally, Stifel Nicolaus reduced 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 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. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of "Moderate Buy" and an average price target of $658.00.
Get Our Latest Research Report on TMO
Thermo Fisher Scientific Price Performance
Shares of NYSE TMO traded up $7.17 during midday trading on Thursday, reaching $538.03. 1,967,770 shares of the stock traded hands, compared to its average volume of 2,101,941. 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 stock has a market capitalization of $205.80 billion, a PE ratio of 32.55, a P/E/G ratio of 2.91 and a beta of 0.77. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The company's 50 day moving average is $548.10 and its 200 day moving average is $568.36.
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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current 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 dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.32%. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.44%.
Thermo Fisher Scientific declared that its Board of Directors has approved a stock repurchase plan on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company's management believes its stock is undervalued.
Insider Transactions at Thermo Fisher Scientific
In other news, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares in the company, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Stephen Williamson sold 9,825 shares of the firm'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 $5,753,421.75. Following the transaction, the chief financial officer now owns 27,296 shares in the company, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,125 shares of company stock worth $11,231,699. 0.34% of the stock is currently owned by 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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