Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Summit Financial LLC

Summit Financial LLC reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,161 shares of the medical research company’s stock after selling 258 shares during the period. Summit Financial LLC’s holdings in Thermo Fisher Scientific were worth $2,687,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Howard Capital Management Group LLC increased its position in Thermo Fisher Scientific by 0.5% during the third quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company’s stock worth $33,759,000 after buying an additional 286 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Thermo Fisher Scientific by 22.1% in the 3rd quarter. Principal Financial Group Inc. now owns 1,247,838 shares of the medical research company’s stock valued at $771,876,000 after acquiring an additional 225,568 shares during the period. Fred Alger Management LLC purchased a new stake in Thermo Fisher Scientific in the 3rd quarter valued at $1,274,000. Tradition Wealth Management LLC grew its position in Thermo Fisher Scientific by 3.1% during the 3rd quarter. Tradition Wealth Management LLC now owns 1,128 shares of the medical research company’s stock worth $697,000 after purchasing an additional 34 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY increased its stake in Thermo Fisher Scientific by 14.6% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 783 shares of the medical research company’s stock valued at $484,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 23,900 shares of company stock valued at $13,106,062. Insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

TMO has been the topic of several recent research reports. Wells Fargo & Company boosted their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Scotiabank boosted their target price on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a report on Monday, February 3rd. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price for the company in a research note on Friday, January 10th. Finally, Citigroup cut their price target on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a report on Tuesday, March 4th. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $653.23.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $498.05 on Tuesday. The firm’s 50-day moving average is $540.37 and its two-hundred day moving average is $551.02. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. The stock has a market capitalization of $187.89 billion, a P/E ratio of 30.13, a P/E/G ratio of 2.99 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 12-month low of $484.27 and a 12-month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping 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 analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current 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 of this dividend is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.35%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio is currently 10.41%.

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.