New England Research & Management Inc. cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 66.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 735 shares of the medical research company's stock after selling 1,480 shares during the quarter. New England Research & Management Inc.'s holdings in Thermo Fisher Scientific were worth $382,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company's stock worth $4,719,477,000 after purchasing an additional 127,564 shares during the last quarter. Coldstream Capital Management Inc. grew its position in Thermo Fisher Scientific by 11.4% during the third quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company's stock valued at $5,972,000 after acquiring an additional 995 shares during the period. Greenwood Gearhart Inc. raised its holdings in shares of Thermo Fisher Scientific by 9.8% in the 3rd quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company's stock worth $12,730,000 after purchasing an additional 1,837 shares during the period. Nordea Investment Management AB raised its holdings in Thermo Fisher Scientific by 23.6% in the fourth quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company's stock valued at $28,868,000 after buying an additional 10,606 shares during the period. Finally, S.E.E.D. Planning Group LLC increased its position in shares of Thermo Fisher Scientific by 6.2% in the fourth quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company's stock worth $5,528,000 after acquiring an additional 618 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on TMO. Bernstein Bank upped their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 22nd. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 target price for the company in a research note on Friday, January 10th. Redburn Atlantic began coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a "buy" rating and a $680.00 price target on the stock. Bank of America lowered 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 report on Friday, December 13th. Finally, Wells Fargo & Company decreased their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of "Moderate Buy" and a consensus price target of $648.95.
Check Out Our Latest Research Report on Thermo Fisher Scientific
Thermo Fisher Scientific Stock Performance
TMO stock traded up $40.39 during midday trading on Thursday, reaching $608.62. The company had a trading volume of 2,235,239 shares, compared to its average volume of 2,050,292. The firm has a market capitalization of $232.80 billion, a PE ratio of 38.26, a P/E/G ratio of 3.82 and a beta of 0.76. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average price of $537.83 and a 200 day moving average price of $570.33.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current year.
Thermo Fisher Scientific Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.26%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.78%.
Thermo Fisher Scientific declared that its board has authorized a stock buyback 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 stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.
Insider Buying and Selling at Thermo Fisher Scientific
In related news, CEO Marc N. Casper sold 5,850 shares of the business's stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $557.89, for a total transaction of $3,263,656.50. Following the sale, the chief executive officer now owns 121,192 shares of the company's stock, valued at $67,611,804.88. The trade was a 4.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 34,850 shares of company stock valued at $19,123,197 in the last quarter. Corporate insiders own 0.34% of the company's stock.
About Thermo Fisher Scientific
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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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