Foster & Motley Inc. decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 4.7% in the 4th quarter, Holdings Channel reports. The firm owned 5,689 shares of the medical research company’s stock after selling 282 shares during the period. Foster & Motley Inc.’s holdings in Thermo Fisher Scientific were worth $2,960,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Manning & Napier Advisors LLC lifted its holdings in shares of Thermo Fisher Scientific by 37.9% during the fourth quarter. Manning & Napier Advisors LLC now owns 267,602 shares of the medical research company’s stock worth $139,215,000 after purchasing an additional 73,575 shares during the period. VanderPol Investments L.L.C. lifted its stake in shares of Thermo Fisher Scientific by 7.7% in the 4th quarter. VanderPol Investments L.L.C. now owns 390 shares of the medical research company’s stock worth $203,000 after acquiring an additional 28 shares during the period. Invesco LLC boosted its holdings in shares of Thermo Fisher Scientific by 1.9% in the fourth quarter. Invesco LLC now owns 10,870 shares of the medical research company’s stock valued at $5,655,000 after acquiring an additional 204 shares in the last quarter. Swedbank AB raised its holdings in Thermo Fisher Scientific by 19.1% during the fourth quarter. Swedbank AB now owns 1,423,155 shares of the medical research company’s stock worth $740,368,000 after purchasing an additional 228,475 shares in the last quarter. Finally, Strategic Blueprint LLC boosted its holdings in Thermo Fisher Scientific by 7.2% in the 4th quarter. Strategic Blueprint LLC now owns 1,368 shares of the medical research company’s stock valued at $712,000 after purchasing an additional 92 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research firms have recently commented on TMO. Scotiabank assumed coverage on Thermo Fisher Scientific in a report on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 price target for the company. Robert W. Baird lowered their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Evercore ISI reduced their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Bank of America lowered their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Finally, StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.
Insiders Place Their Bets
In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $558.12, for a total value of $5,581,200.00. Following the transaction, the chief executive officer now directly owns 33,608 shares of the company’s stock, valued at approximately $18,757,296.96. This trade represents a 22.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In the last ninety days, insiders have sold 34,850 shares of company stock valued at $19,123,197. Insiders own 0.34% of the company’s stock.
Thermo Fisher Scientific Stock Down 2.9 %
TMO stock opened at $567.09 on Thursday. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The stock has a market capitalization of $216.91 billion, a P/E ratio of 35.55, a PEG ratio of 3.82 and a beta of 0.76. The company has a 50 day moving average price of $536.74 and a two-hundred day moving average price of $570.35. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.
Thermo Fisher Scientific Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s payout ratio is currently 9.78%.
Thermo Fisher Scientific announced that its Board of Directors has initiated a share 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 buy up to 2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.
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.
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