Chicago Capital LLC Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Chicago Capital LLC trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,569 shares of the medical research company’s stock after selling 1,048 shares during the quarter. Chicago Capital LLC’s holdings in Thermo Fisher Scientific were worth $20,585,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Legacy Investment Solutions LLC purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $26,000. Peterson Financial Group Inc. purchased a new position in shares of Thermo Fisher Scientific in the third quarter worth approximately $27,000. Missouri Trust & Investment Co purchased a new position in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $29,000. Endeavor Private Wealth Inc. purchased a new position in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of Thermo Fisher Scientific in the third quarter worth approximately $50,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Down 1.4 %

NYSE:TMO opened at $598.40 on Monday. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The company has a 50-day moving average of $541.37 and a 200 day moving average of $571.07. The firm has a market cap of $228.89 billion, a PE ratio of 36.20, a price-to-earnings-growth ratio of 4.06 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.29 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 dividend on an annualized basis and a yield of 0.26%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.44%.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share repurchase plan on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Barclays lowered their price target on shares of 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. Bernstein Bank lifted their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their price objective on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday. TD Cowen lifted their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Finally, Scotiabank initiated coverage on shares of Thermo Fisher Scientific in a research report on Monday, December 23rd. They set a “sector perform” rating and a $605.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $655.64.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the transaction, the chief executive officer now owns 111,192 shares in the company, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders sold 29,000 shares of company stock worth $15,859,540. 0.34% of the stock is owned by corporate 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.