EverSource Wealth Advisors LLC Trims Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

EverSource Wealth Advisors LLC lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,453 shares of the medical research company’s stock after selling 100 shares during the period. EverSource Wealth Advisors LLC’s holdings in Thermo Fisher Scientific were worth $756,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in shares of Thermo Fisher Scientific in the third quarter valued at about $26,000. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific in the third quarter valued at approximately $27,000. Barrett & Company Inc. acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $28,000. Finally, Pillar Financial Advisors LLC acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $508.62 on Friday. The company has a market capitalization of $191.88 billion, a PE ratio of 30.77, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79. The firm has a fifty day simple moving average of $548.72 and a 200-day simple moving average of $560.10. 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 Inc. has a twelve month low of $493.30 and a twelve month high of $627.88.

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

Thermo Fisher Scientific declared that its board has initiated a share buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.34%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio is 10.41%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 3,775 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now directly owns 10,816 shares in the company, valued at $5,759,736.32. This represents a 25.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the transaction, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $13,106,062 in the last ninety days. 0.34% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of analyst reports. Raymond James reissued an “outperform” rating and issued a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Bank of America cut their price objective on shares of 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. Morgan Stanley upped their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada set a $693.00 price target on shares of Thermo Fisher Scientific in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $653.23.

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.