Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Lifted by Convergence Financial LLC

Convergence Financial LLC boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 3,045 shares of the medical research company’s stock after acquiring an additional 103 shares during the quarter. Convergence Financial LLC’s holdings in Thermo Fisher Scientific were worth $1,584,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TMO. Stonegate Investment Group LLC increased its position in Thermo Fisher Scientific by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock worth $3,531,000 after purchasing an additional 18 shares during the last quarter. Semus Wealth Partners LLC raised its position in Thermo Fisher Scientific by 4.0% during the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock valued at $245,000 after acquiring an additional 18 shares in the last quarter. Angeles Wealth Management LLC lifted its stake in Thermo Fisher Scientific by 0.5% in the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock valued at $2,425,000 after acquiring an additional 19 shares during the last quarter. Bangor Savings Bank grew its position in 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 acquiring an additional 19 shares in the last quarter. Finally, Eagle Rock Investment Company LLC raised its holdings in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock valued at $3,882,000 after purchasing an additional 19 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the transaction, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,125 shares of company stock worth $11,231,699. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 1.2 %

Shares of TMO stock opened at $533.00 on Thursday. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The stock has a fifty day moving average price of $549.14 and a 200 day moving average price of $566.23. The stock has a market cap of $201.08 billion, a P/E ratio of 32.24, a price-to-earnings-growth ratio of 2.99 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific declared that its board has authorized a stock repurchase program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed 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 positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. This represents a $1.72 annualized dividend and a dividend yield of 0.32%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.41%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on TMO shares. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Bank of America lowered their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Wells Fargo & Company upped their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group lifted their price target on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Finally, Raymond James reaffirmed an “outperform” rating and set a $667.00 price objective (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $656.86.

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.