Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Lessened by Connable Office Inc.

Connable Office Inc. lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,799 shares of the medical research company’s stock after selling 118 shares during the period. Connable Office Inc.’s holdings in Thermo Fisher Scientific were worth $3,017,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Stonegate Investment Group LLC increased its stake in shares of Thermo Fisher Scientific by 0.3% in the fourth quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock worth $3,531,000 after buying an additional 18 shares during the last quarter. Semus Wealth Partners LLC increased its stake in shares of Thermo Fisher Scientific by 4.0% in the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock worth $245,000 after buying an additional 18 shares during the last quarter. Angeles Wealth Management LLC increased its stake in shares of Thermo Fisher Scientific by 0.5% in the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock worth $2,425,000 after buying an additional 19 shares during the last quarter. Bangor Savings Bank increased its stake in Thermo Fisher Scientific by 6.0% during the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after purchasing an additional 19 shares during the last quarter. Finally, Eagle Rock Investment Company LLC increased its stake in Thermo Fisher Scientific by 0.3% during the fourth quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock valued at $3,882,000 after purchasing an additional 19 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

TMO has been the subject of several recent research reports. Bank of America lowered their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, December 13th. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Raymond James reiterated an “outperform” rating and set a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Citigroup upped their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Finally, Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $656.86.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $528.99 on Friday. The stock has a fifty day moving average price of $549.37 and a two-hundred day moving average price of $565.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The firm has a market cap of $199.57 billion, a P/E ratio of 32.00, a PEG ratio of 2.99 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.43 per share. The ex-dividend date is Friday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.41%.

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

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 111,192 shares of the company’s stock, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the sale, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,125 shares of company stock valued at $11,231,699 in the last three months. 0.34% of the stock is currently owned by corporate insiders.

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.