Graypoint LLC Has $1.28 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Graypoint LLC trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 17.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,455 shares of the medical research company’s stock after selling 537 shares during the period. Graypoint LLC’s holdings in Thermo Fisher Scientific were worth $1,277,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. LPL Financial LLC increased its stake in Thermo Fisher Scientific by 4.6% during the 2nd quarter. LPL Financial LLC now owns 217,770 shares of the medical research company’s stock worth $120,427,000 after purchasing an additional 9,578 shares in the last quarter. Johnson Investment Counsel Inc. increased its stake in Thermo Fisher Scientific by 3.4% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 9,359 shares of the medical research company’s stock worth $5,176,000 after purchasing an additional 309 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in shares of Thermo Fisher Scientific by 0.5% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 31,433 shares of the medical research company’s stock worth $17,382,000 after acquiring an additional 144 shares in the last quarter. DekaBank Deutsche Girozentrale grew its stake in shares of Thermo Fisher Scientific by 6.9% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 819,893 shares of the medical research company’s stock worth $450,892,000 after acquiring an additional 52,675 shares in the last quarter. Finally, Meeder Advisory Services Inc. grew its stake in shares of Thermo Fisher Scientific by 37.1% during the 2nd quarter. Meeder Advisory Services Inc. now owns 7,410 shares of the medical research company’s stock worth $4,098,000 after acquiring an additional 2,005 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TMO. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Royal Bank of Canada cut their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Bernstein Bank increased their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $650.52.

Insider Buying and Selling at Thermo Fisher Scientific

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

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $542.97 on Friday. The stock has a market cap of $207.69 billion, a P/E ratio of 34.04, a PEG ratio of 3.54 and a beta of 0.76. The stock has a 50 day simple moving average of $529.91 and a 200 day simple moving average of $567.91. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the firm earned $5.69 EPS. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

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

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.