Patrick M Sweeney & Associates Inc. Acquires 22 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Patrick M Sweeney & Associates Inc. lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,066 shares of the medical research company’s stock after buying an additional 22 shares during the period. Patrick M Sweeney & Associates Inc.’s holdings in Thermo Fisher Scientific were worth $555,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth about $26,000. Peterson Financial Group Inc. bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth about $27,000. Missouri Trust & Investment Co bought a new position in Thermo Fisher Scientific during the 4th quarter valued at about $29,000. Endeavor Private Wealth Inc. bought a new position in Thermo Fisher Scientific during the 4th quarter valued at about $30,000. Finally, Decker Retirement Planning Inc. bought a new position in Thermo Fisher Scientific during the 4th quarter valued at about $43,000. 89.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $558.12, for a total transaction of $5,581,200.00. Following the completion of the sale, the chief executive officer now directly owns 33,608 shares in the company, valued at approximately $18,757,296.96. This trade represents a 22.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders sold 34,850 shares of company stock worth $19,123,197. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on TMO shares. Wells Fargo & Company lowered their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Bank of America decreased their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Stifel Nicolaus cut their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. TD Cowen increased their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Finally, Robert W. Baird cut their price objective 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. 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. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $648.95.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $583.43 on Tuesday. The company’s 50-day moving average price is $533.60 and its 200-day moving average price is $569.81. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The company has a market cap of $223.16 billion, a P/E ratio of 36.58, a P/E/G ratio of 3.82 and a beta of 0.76. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88.

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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.27%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

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.