Klingman & Associates LLC trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 30.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,187 shares of the medical research company's stock after selling 950 shares during the period. Klingman & Associates LLC's holdings in Thermo Fisher Scientific were worth $1,138,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Stonegate Investment Group LLC grew its holdings in shares of Thermo Fisher Scientific by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company's stock worth $3,531,000 after acquiring an additional 18 shares during the period. Angeles Wealth Management LLC raised its position in Thermo Fisher Scientific by 0.5% during the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company's stock worth $2,425,000 after acquiring an additional 19 shares during the last quarter. Bangor Savings Bank lifted its stake in Thermo Fisher Scientific by 6.0% in the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company's stock valued at $174,000 after buying an additional 19 shares in the last quarter. Eagle Rock Investment Company LLC increased its position in Thermo Fisher Scientific by 0.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company's stock worth $3,882,000 after purchasing an additional 19 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors raised its stake in Thermo Fisher Scientific by 0.8% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 2,429 shares of the medical research company's stock valued at $1,502,000 after purchasing an additional 20 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.
Analyst Ratings Changes
TMO has been the subject of a number of recent research reports. Scotiabank lifted their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a "sector perform" rating in a report on Monday, February 3rd. UBS Group boosted their price target on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a "buy" rating in a report on Friday, January 31st. Robert W. Baird decreased their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Evercore ISI dropped 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. Finally, Royal Bank of Canada decreased their target price on shares of 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. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and an average price target of $658.00.
Get Our Latest 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 that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the sale, the chief executive officer now directly owns 111,192 shares of the company's stock, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their position. The transaction was disclosed in a legal 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 on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the transaction, the chief financial officer now directly owns 27,296 shares of the company's stock, 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. Insiders have sold 20,125 shares of company stock valued at $11,231,699 over the last ninety days. Corporate insiders own 0.34% of the company's stock.
Thermo Fisher Scientific Stock Down 1.0 %
Shares of TMO stock traded down $5.28 on Friday, hitting $532.55. The stock had a trading volume of 1,613,862 shares, compared to its average volume of 2,087,588. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The firm has a market capitalization of $203.70 billion, a price-to-earnings ratio of 32.22, a P/E/G ratio of 2.95 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The stock's 50 day moving average is $548.36 and its 200-day moving average is $568.15.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating 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, research analysts expect 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 declared 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. The ex-dividend date is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.32%. This is an increase 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 of Directors has authorized a share repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.
About Thermo Fisher Scientific
(
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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