Dakota Wealth Management Sells 642 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Dakota Wealth Management lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,285 shares of the medical research company’s stock after selling 642 shares during the quarter. Dakota Wealth Management’s holdings in Thermo Fisher Scientific were worth $3,270,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of TMO. Evergreen Capital Management LLC increased its holdings in Thermo Fisher Scientific by 8.0% during the second quarter. Evergreen Capital Management LLC now owns 2,965 shares of the medical research company’s stock worth $1,641,000 after buying an additional 219 shares during the last quarter. Sfmg LLC raised its holdings in shares of Thermo Fisher Scientific by 3.6% in the 2nd quarter. Sfmg LLC now owns 6,049 shares of the medical research company’s stock worth $3,345,000 after purchasing an additional 213 shares during the period. Insigneo Advisory Services LLC lifted its stake in Thermo Fisher Scientific by 6.4% in the second quarter. Insigneo Advisory Services LLC now owns 3,345 shares of the medical research company’s stock valued at $2,000,000 after purchasing an additional 200 shares during the last quarter. Point72 Asset Management L.P. increased its position in Thermo Fisher Scientific by 743.6% in the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock worth $186,105,000 after buying an additional 296,646 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI raised its stake in shares of Thermo Fisher Scientific by 1.9% in the second quarter. Zurich Insurance Group Ltd FI now owns 220,314 shares of the medical research company’s stock valued at $121,834,000 after buying an additional 4,115 shares during the period. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Up 0.3 %

Shares of TMO opened at $574.72 on Thursday. The firm has a market cap of $219.83 billion, a P/E ratio of 36.03, a P/E/G ratio of 3.81 and a beta of 0.76. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The stock has a 50 day simple moving average of $530.86 and a two-hundred day simple moving average of $568.96. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the firm posted $5.69 earnings per share. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.27%. Thermo Fisher Scientific’s payout ratio is 9.78%.

Thermo Fisher Scientific announced that its board has authorized a stock repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the transaction, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on TMO. Wells Fargo & Company lowered their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Bernstein Bank upped their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. TD Cowen lifted their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Morgan Stanley cut their price target on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Finally, 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 note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.

Thermo Fisher Scientific Company 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.