New Century Financial Group LLC Has $1.08 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

New Century Financial Group LLC lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,038 shares of the medical research company’s stock after selling 25 shares during the quarter. New Century Financial Group LLC’s holdings in Thermo Fisher Scientific were worth $1,084,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in TMO. Legacy Investment Solutions LLC acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth about $26,000. Peterson Financial Group Inc. acquired a new position in Thermo Fisher Scientific during the third quarter valued at approximately $27,000. Missouri Trust & Investment Co acquired a new position in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $29,000. Endeavor Private Wealth Inc. bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. bought a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at $43,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on TMO shares. Morgan Stanley dropped their price target on shares of Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price for the company in a research note on Friday, January 10th. Stifel Nicolaus dropped their price objective on 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. Robert W. Baird reduced their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, TD Cowen raised their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $648.95.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific 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 transaction, the chief executive officer now owns 121,192 shares in the company, valued at $67,175,513.68. The trade was a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders have sold 44,850 shares of company stock worth $24,666,097. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO opened at $574.83 on Friday. The firm has a market cap of $219.87 billion, a P/E ratio of 36.04, a price-to-earnings-growth ratio of 3.82 and a beta of 0.76. The business’s fifty day moving average is $531.52 and its 200-day moving average is $569.01. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week 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.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $5.69 EPS. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock repurchase plan on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s management 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.