Riverbend Wealth Management LLC Purchases Shares of 599 Thermo Fisher Scientific Inc. (NYSE:TMO)

Riverbend Wealth Management LLC bought a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 599 shares of the medical research company's stock, valued at approximately $312,000.

A number of other hedge funds have also recently added to or reduced their stakes in TMO. Stonegate Investment Group LLC lifted its holdings in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company's stock worth $3,531,000 after purchasing an additional 18 shares during the period. Semus Wealth Partners LLC increased its stake in shares of Thermo Fisher Scientific by 4.0% during the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company's stock worth $245,000 after acquiring an additional 18 shares during the period. Bangor Savings Bank lifted its position in Thermo Fisher Scientific by 6.0% in the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company's stock valued at $174,000 after purchasing an additional 19 shares during the period. Eagle Rock Investment Company LLC boosted its holdings in Thermo Fisher Scientific by 0.3% in the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company's stock valued at $3,882,000 after purchasing an additional 19 shares in the last quarter. Finally, Connable Office Inc. lifted its holdings in shares of Thermo Fisher Scientific by 0.3% in the 3rd quarter. Connable Office Inc. now owns 5,917 shares of the medical research company's stock valued at $3,660,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 89.23% of the company's stock.

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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 on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the transaction, the chief executive officer now directly owns 115,174 shares of the company's stock, valued at approximately $59,506,950.58. This represents a 7.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction dated 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 transaction, the executive vice president now owns 16,363 shares of the company's stock, valued at $9,582,009.17. The trade was a 1.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock valued at $13,106,062 in the last three months. 0.34% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO traded up $1.06 during trading hours on Wednesday, hitting $515.26. 886,654 shares of the company's stock traded hands, compared to its average volume of 1,528,330. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a market cap of $194.39 billion, a price-to-earnings ratio of 31.09, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79. The company's fifty day simple moving average is $549.14 and its two-hundred day simple moving average is $560.79.

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, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase program on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

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 issued a $0.43 dividend. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.33%. The ex-dividend date of this dividend is Friday, March 14th. Thermo Fisher Scientific's payout ratio is presently 10.41%.

Analyst Upgrades and Downgrades

TMO has been the topic of several recent research reports. Raymond James reiterated an "outperform" rating and issued a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Citigroup dropped their price objective on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a "neutral" rating for the company in a research note on Tuesday, March 4th. Bank of America dropped their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a "buy" rating for the company in a research note on Friday, December 13th. Scotiabank upped their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a "sector perform" rating in a research note on Monday, February 3rd. Finally, StockNews.com raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of "Moderate Buy" and an average target price of $653.23.

About Thermo Fisher Scientific

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.