Principal Financial Group Inc. Sells 30,923 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Principal Financial Group Inc. decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,216,915 shares of the medical research company's stock after selling 30,923 shares during the quarter. Principal Financial Group Inc. owned 0.32% of Thermo Fisher Scientific worth $633,076,000 at the end of the most recent quarter.

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

Thermo Fisher Scientific Stock Up 1.4 %

NYSE TMO traded up $7.17 on Thursday, reaching $538.03. The company had a trading volume of 1,967,770 shares, compared to its average volume of 2,101,941. The stock has a market capitalization of $205.80 billion, a P/E ratio of 32.55, a P/E/G ratio of 2.91 and a beta of 0.77. The company's fifty day moving average is $548.10 and its 200 day 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. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS 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%. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm 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 $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's dividend payout ratio is 9.44%.

Thermo Fisher Scientific declared that its board has authorized a share buyback plan on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to buy up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley upped their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an "overweight" rating in a report on Friday, January 31st. UBS Group upped their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a "buy" rating in a report on Friday, January 31st. Royal Bank of Canada cut their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a "market perform" rating to an "outperform" rating and set a $630.00 price target on the stock in a report on Friday, January 10th. Finally, Stifel Nicolaus cut their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating on the stock in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to MarketBeat, Thermo Fisher Scientific has a consensus rating of "Moderate Buy" and a consensus price target of $658.00.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the sale, the chief executive officer now owns 111,192 shares of the company's stock, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed 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 directly owns 27,296 shares of the company's stock, valued at approximately $15,984,264.64. This trade represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock worth $11,231,699 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Profile

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.