Terra Nova Asset Management LLC decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 72.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 841 shares of the medical research company's stock after selling 2,211 shares during the period. Terra Nova Asset Management LLC's holdings in Thermo Fisher Scientific were worth $438,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in TMO. IFG Advisors LLC grew its stake in Thermo Fisher Scientific by 3.3% in the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company's stock valued at $329,000 after buying an additional 17 shares during the last quarter. Trivant Custom Portfolio Group LLC increased its stake in shares of Thermo Fisher Scientific by 0.4% in the third quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company's stock worth $2,720,000 after purchasing an additional 19 shares during the period. Axiom Advisory LLC boosted its stake in Thermo Fisher Scientific by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company's stock valued at $720,000 after purchasing an additional 19 shares during the period. Angeles Wealth Management LLC grew its holdings in Thermo Fisher Scientific by 0.5% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company's stock valued at $2,425,000 after buying an additional 19 shares during the last quarter. Finally, Bangor Savings Bank lifted its holdings in shares of Thermo Fisher Scientific by 6.0% during the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company's stock worth $174,000 after buying an additional 19 shares during the last quarter. 89.23% of the stock is owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently issued reports on TMO shares. Scotiabank started coverage on shares of Thermo Fisher Scientific in a research report on Monday, December 23rd. They set a "sector perform" rating and a $605.00 target price on the stock. StockNews.com raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, January 14th. Royal Bank of Canada decreased their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Robert W. Baird reduced their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Finally, Evercore ISI cut their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $648.95.
Get Our Latest Research Report on TMO
Insider Activity at Thermo Fisher Scientific
In related news, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the transaction, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the business's stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares of the company's stock, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is owned by insiders.
Thermo Fisher Scientific Trading Down 0.4 %
Shares of NYSE:TMO traded down $1.99 during midday trading on Monday, hitting $559.72. The company had a trading volume of 2,134,669 shares, compared to its average volume of 1,426,114. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The stock has a market cap of $214.09 billion, a price-to-earnings ratio of 35.09, a PEG ratio of 3.59 and a beta of 0.76. The firm has a fifty day simple moving average of $529.96 and a 200 day simple moving average of $568.56.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted 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. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period in the previous year, the company posted $5.69 earnings per share. The company's revenue for the quarter was up .2% on a year-over-year basis. On average, analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.
Thermo Fisher Scientific Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. Thermo Fisher Scientific's dividend payout ratio is currently 9.78%.
Thermo Fisher Scientific announced that its Board of Directors has initiated 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 purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's management believes its stock is undervalued.
Thermo Fisher Scientific Company 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.
See Also
Before you consider Thermo Fisher Scientific, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Thermo Fisher Scientific wasn't on the list.
While Thermo Fisher Scientific currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
