Wendell David Associates Inc. cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 2.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,206 shares of the medical research company’s stock after selling 90 shares during the period. Wendell David Associates Inc.’s holdings in Thermo Fisher Scientific were worth $2,188,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 76,051.4% in the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after acquiring an additional 1,414,556 shares in the last quarter. FMR LLC boosted its holdings in Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after purchasing an additional 1,294,453 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Thermo Fisher Scientific by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after buying an additional 604,895 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at approximately $254,412,000. Finally, Point72 Asset Management L.P. grew its holdings in Thermo Fisher Scientific by 743.6% during the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock worth $186,105,000 after acquiring an additional 296,646 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.
Thermo Fisher Scientific Price Performance
TMO opened at $574.72 on Thursday. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The company’s 50 day simple moving average is $530.86 and its 200 day simple moving average is $568.96. The stock has a market capitalization of $219.83 billion, a PE ratio of 36.03, a P/E/G ratio of 3.81 and a beta of 0.76.
Thermo Fisher Scientific Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were issued a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.27%. Thermo Fisher Scientific’s payout ratio is 9.78%.
Thermo Fisher Scientific declared that its board has authorized a share repurchase plan on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its stock is undervalued.
Analysts Set New Price Targets
TMO has been the topic of several research analyst reports. Robert W. Baird decreased their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Bernstein Bank increased their target price on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. Stifel Nicolaus decreased their target price on 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, Stephens started coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target for the company. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $648.95.
View Our Latest Stock Analysis on TMO
Insiders Place Their Bets
In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the sale, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’s 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 $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,150 shares of company stock worth $25,954,465 over the last ninety days. 0.34% of the stock is owned by company insiders.
About Thermo Fisher Scientific
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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