Daymark Wealth Partners LLC Lowers Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Daymark Wealth Partners LLC decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 16.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 590 shares of the medical research company’s stock after selling 119 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Thermo Fisher Scientific were worth $307,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. IFG Advisors LLC increased its stake in Thermo Fisher Scientific by 3.3% during the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 17 shares in the last quarter. Trivant Custom Portfolio Group LLC increased its position in shares of Thermo Fisher Scientific by 0.4% in the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company’s stock valued at $2,720,000 after acquiring an additional 19 shares during the period. Axiom Advisory LLC lifted its position in Thermo Fisher Scientific by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock worth $720,000 after acquiring an additional 19 shares during the period. Angeles Wealth Management LLC grew its stake in Thermo Fisher Scientific by 0.5% during the 3rd quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock valued at $2,425,000 after purchasing an additional 19 shares during the last quarter. Finally, Bangor Savings Bank raised its stake in shares of Thermo Fisher Scientific by 6.0% in the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after purchasing an additional 19 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $575.21 on Friday. 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 Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The company has a market cap of $220.02 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 3.82 and a beta of 0.76. The stock’s 50 day simple moving average is $532.36 and its 200-day simple moving average is $569.05.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.69 earnings per share. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has initiated a stock buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,850 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $557.89, for a total value of $3,263,656.50. Following the completion of the sale, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,611,804.88. This represents a 4.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 44,850 shares of company stock worth $24,666,097 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

TMO has been the topic of several research reports. Scotiabank initiated coverage on shares of Thermo Fisher Scientific in a report on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 price target on the stock. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Stephens initiated coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target on the stock. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price on the stock in a research note on Friday, January 10th. Finally, TD Cowen lifted their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Four 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average 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.