Thermo Fisher Scientific Inc. (NYSE:TMO) Position Reduced by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 952 shares of the medical research company’s stock after selling 84 shares during the period. Hanson & Doremus Investment Management’s holdings in Thermo Fisher Scientific were worth $495,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP grew its position in Thermo Fisher Scientific by 86.2% in the 2nd quarter. Quarry LP now owns 121 shares of the medical research company’s stock worth $67,000 after purchasing an additional 56 shares during the last quarter. Advisory Alpha LLC grew its holdings in Thermo Fisher Scientific by 34.7% in the 2nd quarter. Advisory Alpha LLC now owns 1,049 shares of the medical research company’s stock worth $580,000 after buying an additional 270 shares in the last quarter. 3Chopt Investment Partners LLC bought a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $401,000. Founders Financial Alliance LLC boosted its position in Thermo Fisher Scientific by 33.6% during the 2nd quarter. Founders Financial Alliance LLC now owns 477 shares of the medical research company’s stock worth $264,000 after acquiring an additional 120 shares during the period. Finally, Brown Financial Advisors acquired a new position in shares of Thermo Fisher Scientific during the second quarter valued at $671,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $567.09 on Thursday. The stock’s fifty day simple moving average is $536.74 and its 200-day simple moving average is $570.35. The company has a market capitalization of $216.91 billion, a price-to-earnings ratio of 35.55, a P/E/G ratio of 3.82 and a beta of 0.76. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders 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 0.28%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has authorized a stock repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TMO shares. TD Cowen increased their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Bank of America lowered their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a report on Friday, January 10th. Finally, Barclays lowered their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Four 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. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $648.95.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $558.12, for a total value of $5,581,200.00. Following the transaction, the chief executive officer now directly owns 33,608 shares of the company’s stock, valued at $18,757,296.96. This represents a 22.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 34,850 shares of company stock valued at $19,123,197. Corporate insiders own 0.34% of the company’s stock.

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.