NewEdge Wealth LLC Boosts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

NewEdge Wealth LLC lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.1% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 13,964 shares of the medical research company’s stock after purchasing an additional 797 shares during the period. NewEdge Wealth LLC’s holdings in Thermo Fisher Scientific were worth $7,264,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of TMO. Legacy Investment Solutions LLC acquired a new stake in Thermo Fisher Scientific during the third quarter worth about $26,000. Peterson Financial Group Inc. acquired a new stake in Thermo Fisher Scientific during the third quarter worth about $27,000. Barrett & Company Inc. acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth about $28,000. FPC Investment Advisory Inc. acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth about $28,000. Finally, Missouri Trust & Investment Co acquired a new stake in Thermo Fisher Scientific during the fourth quarter worth about $29,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Thermo Fisher Scientific

In related news, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction on 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 sale, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. This represents a 26.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,125 shares of company stock worth $11,231,699. 0.34% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on TMO shares. Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Scotiabank lifted their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research report on Monday, February 3rd. Raymond James reiterated an “outperform” rating and set a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Finally, Royal Bank of Canada set a $693.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $656.86.

Thermo Fisher Scientific Stock Down 1.9 %

Shares of Thermo Fisher Scientific stock opened at $523.40 on Friday. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The company has a 50 day moving average of $549.27 and a 200 day moving average of $565.93. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $197.46 billion, a P/E ratio of 31.66, a P/E/G ratio of 2.99 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping 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%. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has approved a stock repurchase plan on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Friday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s payout ratio is currently 10.41%.

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.