Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Allworth Financial LP

Allworth Financial LP lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 183.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,783 shares of the medical research company's stock after acquiring an additional 12,160 shares during the period. Allworth Financial LP's holdings in Thermo Fisher Scientific were worth $10,792,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Legacy Investment Solutions LLC purchased a new stake in shares of Thermo Fisher Scientific in the third quarter worth about $26,000. Peterson Financial Group Inc. purchased a new stake in shares of Thermo Fisher Scientific in the third quarter worth about $27,000. Barrett & Company Inc. purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth about $28,000. Missouri Trust & Investment Co purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth about $29,000. Finally, Endeavor Private Wealth Inc. purchased a new stake in Thermo Fisher Scientific during the fourth quarter valued at approximately $30,000. Institutional investors own 89.23% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on TMO shares. Royal Bank of Canada decreased their price objective 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. Citigroup upped their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a "neutral" rating in a research report on Friday, January 31st. StockNews.com upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday, January 14th. Stifel Nicolaus decreased their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Finally, Scotiabank increased their price target on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a "sector perform" rating in a report on Monday, February 3rd. Four equities research 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 stock presently has an average rating of "Moderate Buy" and a consensus price target of $658.00.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the sale, the executive vice president now directly owns 16,363 shares in the company, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the sale, the chief financial officer now 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 disclosure for this sale can be found here. Insiders have sold 20,125 shares of company stock worth $11,231,699 in the last ninety days. Company insiders own 0.34% of the company's stock.

Thermo Fisher Scientific Stock Up 1.4 %

NYSE TMO traded up $7.17 during midday trading on Thursday, hitting $538.03. 1,967,770 shares of the company traded hands, compared to its average volume of 2,101,941. The company has a market cap of $205.80 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 2.91 and a beta of 0.77. 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 company's 50-day simple moving average is $548.10 and its 200-day simple moving average is $568.36. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating 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%. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.43 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.32%. This is a positive change from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 9.44%.

Thermo Fisher Scientific announced that its board has initiated a stock buyback program on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

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.