Thermo Fisher Scientific Inc. (NYSE:TMO) Position Decreased by Princeton Global Asset Management LLC

Princeton Global Asset Management LLC trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,796 shares of the medical research company’s stock after selling 371 shares during the period. Princeton Global Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $4,056,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at approximately $26,000. Peterson Financial Group Inc. acquired a new position in Thermo Fisher Scientific during the third quarter valued at $27,000. Missouri Trust & Investment Co purchased a new stake in Thermo Fisher Scientific in the 4th quarter worth about $29,000. Endeavor Private Wealth Inc. purchased a new position in Thermo Fisher Scientific during the 4th quarter valued at about $30,000. Finally, Decker Retirement Planning Inc. purchased a new stake in shares of Thermo Fisher Scientific in the fourth quarter worth approximately $43,000. Institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on TMO shares. 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. Wells Fargo & Company upped their price target on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday. Bank of America reduced their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Robert W. Baird cut their price target 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, Bernstein Bank boosted their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $655.64.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the sale, the chief executive officer now directly owns 14,608 shares in the company, valued at approximately $8,076,178.88. This represents a 38.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold 29,000 shares of company stock worth $15,859,540 over the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 1.4 %

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 business has a 50 day moving average of $541.37 and a 200-day moving average of $571.07. The stock has a market capitalization of $228.89 billion, a price-to-earnings ratio of 36.20, a P/E/G ratio of 4.06 and a beta of 0.77. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating 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, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.29 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. Thermo Fisher Scientific’s payout ratio is 9.44%.

Thermo Fisher Scientific declared that its board has initiated a stock repurchase program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors 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.