PFG Investments LLC Sells 103 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

PFG Investments LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,136 shares of the medical research company’s stock after selling 103 shares during the period. PFG Investments LLC’s holdings in Thermo Fisher Scientific were worth $1,111,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in Thermo Fisher Scientific in the third quarter valued at approximately $26,000. Peterson Financial Group Inc. purchased a new position in shares of Thermo Fisher Scientific in the third quarter worth $27,000. Missouri Trust & Investment Co purchased a new position in shares of Thermo Fisher Scientific in the fourth quarter worth $29,000. Endeavor Private Wealth Inc. purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter worth $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Thermo Fisher Scientific during the third quarter worth $50,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $584.38 on Wednesday. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The firm’s 50 day moving average price is $535.24 and its 200 day moving average price is $570.10. The company has a market cap of $223.52 billion, a P/E ratio of 36.64, a PEG ratio of 3.82 and a beta of 0.76. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific declared that its board has approved a stock repurchase 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 reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 was Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 5,850 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $557.89, for a total transaction of $3,263,656.50. Following the sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,611,804.88. This represents a 4.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 34,850 shares of company stock valued at $19,123,197 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Evercore ISI reduced their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. TD Cowen boosted their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Bernstein Bank boosted their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Morgan Stanley reduced their target price on shares of Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Four investment 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $648.95.

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.