Private Wealth Partners LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 63,203 shares of the medical research company's stock after purchasing an additional 3,197 shares during the period. Thermo Fisher Scientific accounts for 2.5% of Private Wealth Partners LLC's holdings, making the stock its 9th biggest position. Private Wealth Partners LLC's holdings in Thermo Fisher Scientific were worth $32,880,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in TMO. Legacy Investment Solutions LLC acquired a new stake in Thermo Fisher Scientific during the 3rd quarter valued at $26,000. Peterson Financial Group Inc. acquired a new stake in Thermo Fisher Scientific during the 3rd quarter valued at $27,000. Barrett & Company Inc. acquired a new stake in Thermo Fisher Scientific during the 4th quarter valued at $28,000. Missouri Trust & Investment Co acquired a new stake in Thermo Fisher Scientific during the 4th quarter valued at $29,000. Finally, Endeavor Private Wealth Inc. acquired a new stake in Thermo Fisher Scientific during the 4th quarter valued at $30,000. Institutional investors own 89.23% of the company's stock.
Insider Transactions at Thermo Fisher Scientific
In related news, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction that occurred on 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 transaction, the chief financial officer now directly owns 27,296 shares of the company's stock, valued at $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the transaction, the executive vice president now directly owns 16,363 shares in the company, valued at approximately $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,125 shares of company stock worth $11,231,699. Insiders own 0.34% of the company's stock.
Thermo Fisher Scientific Price Performance
Thermo Fisher Scientific stock traded down $4.20 during midday trading on Friday, reaching $533.63. The company's stock had a trading volume of 902,026 shares, compared to its average volume of 2,063,640. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $548.36 and a 200-day moving average price of $568.15. The stock has a market cap of $204.11 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 2.95 and a beta of 0.77.
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 earnings per share for the quarter, topping 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%. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.
Thermo Fisher Scientific declared that its Board of Directors has initiated a stock buyback plan on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.
Thermo Fisher Scientific Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.43 per share. This is a boost from Thermo Fisher Scientific's previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific's payout ratio is 9.44%.
Analyst Upgrades and Downgrades
TMO has been the subject of a number of research reports. Royal Bank of Canada dropped their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Stifel Nicolaus dropped their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating for the company in a report on Thursday, October 24th. Raymond James reissued an "outperform" rating and set a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Robert W. Baird dropped their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Finally, StockNews.com raised Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $658.00.
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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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