Trueblood Wealth Management LLC Buys 57 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Trueblood Wealth Management LLC lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 2,193 shares of the medical research company’s stock after acquiring an additional 57 shares during the quarter. Trueblood Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $1,141,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Mechanics Bank Trust Department lifted its holdings in Thermo Fisher Scientific by 21.9% in the fourth quarter. Mechanics Bank Trust Department now owns 2,660 shares of the medical research company’s stock valued at $1,384,000 after acquiring an additional 477 shares during the period. Diversify Wealth Management LLC boosted its stake in shares of Thermo Fisher Scientific by 15.9% in the fourth quarter. Diversify Wealth Management LLC now owns 4,113 shares of the medical research company’s stock worth $2,231,000 after acquiring an additional 564 shares during the last quarter. Gilman Hill Asset Management LLC raised its holdings in Thermo Fisher Scientific by 4.2% in the 4th quarter. Gilman Hill Asset Management LLC now owns 6,755 shares of the medical research company’s stock valued at $3,514,000 after acquiring an additional 273 shares during the last quarter. Annex Advisory Services LLC raised its stake in Thermo Fisher Scientific by 7.7% during the fourth quarter. Annex Advisory Services LLC now owns 9,232 shares of the medical research company’s stock worth $4,803,000 after purchasing an additional 660 shares during the period. Finally, Grove Bank & Trust raised its position in shares of Thermo Fisher Scientific by 1.1% during the 4th quarter. Grove Bank & Trust now owns 6,158 shares of the medical research company’s stock valued at $3,204,000 after buying an additional 66 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on TMO shares. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a research note on Friday, January 10th. Scotiabank assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 price target for the company. Barclays dropped their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. TD Cowen lifted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company decreased their price target on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $648.95.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the transaction, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock worth $25,954,465 in the last quarter. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $559.72 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 current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $214.09 billion, a P/E ratio of 35.09, a PEG ratio of 3.59 and a beta of 0.76. The business has a 50-day moving average of $529.96 and a 200-day moving average of $568.33.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the business posted $5.69 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

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

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.