Red Spruce Capital LLC increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 20.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,837 shares of the medical research company’s stock after buying an additional 311 shares during the period. Red Spruce Capital LLC’s holdings in Thermo Fisher Scientific were worth $956,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sheets Smith Wealth Management boosted its position in Thermo Fisher Scientific by 13.9% during the fourth quarter. Sheets Smith Wealth Management now owns 2,904 shares of the medical research company’s stock worth $1,511,000 after purchasing an additional 355 shares in the last quarter. Beaumont Financial Advisors LLC lifted its position in shares of Thermo Fisher Scientific by 24.8% during the 4th quarter. Beaumont Financial Advisors LLC now owns 2,021 shares of the medical research company’s stock valued at $1,052,000 after buying an additional 402 shares in the last quarter. MCF Advisors LLC raised its position in Thermo Fisher Scientific by 19.0% during the fourth quarter. MCF Advisors LLC now owns 3,515 shares of the medical research company’s stock worth $1,830,000 after acquiring an additional 560 shares during the period. Commons Capital LLC lifted its holdings in Thermo Fisher Scientific by 2.3% during the fourth quarter. Commons Capital LLC now owns 2,518 shares of the medical research company’s stock valued at $1,310,000 after purchasing an additional 56 shares in the last quarter. Finally, Howard Capital Management Group LLC increased its stake in shares of Thermo Fisher Scientific by 1.2% during the fourth quarter. Howard Capital Management Group LLC now owns 55,232 shares of the medical research company’s stock worth $28,733,000 after purchasing an additional 657 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.
Thermo Fisher Scientific Trading Up 2.4 %
Shares of NYSE:TMO opened at $572.85 on Wednesday. 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’s 50 day moving average is $530.22 and its two-hundred day moving average is $568.73. The company has a market cap of $219.11 billion, a PE ratio of 35.92, a P/E/G ratio of 3.71 and a beta of 0.76. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88.
Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback plan on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
Thermo Fisher Scientific Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.
Insider Buying and Selling at Thermo Fisher Scientific
In other news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the sale, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock worth $25,954,465 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research firms have commented on TMO. 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 research note on Thursday, October 24th. TD Cowen increased their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Stifel Nicolaus lowered 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 report on Thursday, October 24th. Finally, Evercore ISI decreased their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.
View Our Latest Analysis on TMO
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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