Cornell Pochily Investment Advisors Inc. Sells 33 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Cornell Pochily Investment Advisors Inc. lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,368 shares of the medical research company’s stock after selling 33 shares during the quarter. Thermo Fisher Scientific comprises approximately 1.2% of Cornell Pochily Investment Advisors Inc.’s holdings, making the stock its 20th largest holding. Cornell Pochily Investment Advisors Inc.’s holdings in Thermo Fisher Scientific were worth $3,313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new stake in shares of Thermo Fisher Scientific in the third quarter worth approximately $26,000. Peterson Financial Group Inc. purchased a new stake in Thermo Fisher Scientific in the third quarter worth $27,000. Missouri Trust & Investment Co purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at $29,000. Endeavor Private Wealth Inc. bought a new position in shares of Thermo Fisher Scientific in the fourth quarter worth about $30,000. Finally, Decker Retirement Planning Inc. bought a new stake in Thermo Fisher Scientific during the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $575.21 on Monday. The business has a fifty day moving average of $533.60 and a 200 day moving average of $569.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The firm has a market capitalization of $220.02 billion, a price-to-earnings ratio of 36.06, a price-to-earnings-growth ratio of 3.82 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.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase program on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were issued a $0.39 dividend. 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 dividend payout ratio (DPR) is presently 9.78%.

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 on Friday, November 1st. The shares were sold at an average price of $557.89, for a total value of $3,263,656.50. Following the completion of the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,611,804.88. The trade was a 4.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 34,850 shares of company stock worth $19,123,197. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on TMO shares. Bernstein Bank raised their target price 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. Scotiabank assumed coverage on Thermo Fisher Scientific in a research report on Monday, December 23rd. They set a “sector perform” rating and a $605.00 target price for the company. 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 research note on Thursday, October 24th. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price on the stock in a report on Friday, January 10th. Finally, Stifel Nicolaus lowered their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $648.95.

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.