Dumont & Blake Investment Advisors LLC Decreases Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Dumont & Blake Investment Advisors LLC decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,347 shares of the medical research company’s stock after selling 26 shares during the quarter. Dumont & Blake Investment Advisors LLC’s holdings in Thermo Fisher Scientific were worth $1,221,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp lifted its position in Thermo Fisher Scientific by 0.8% during the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after purchasing an additional 124,996 shares during the last quarter. FMR LLC lifted its holdings in shares of Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after acquiring an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC grew its position in Thermo Fisher Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after acquiring an additional 127,564 shares in the last quarter. Franklin Resources Inc. raised its position in Thermo Fisher Scientific by 5.7% during the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after purchasing an additional 262,062 shares during the period. Finally, Fisher Asset Management LLC lifted its stake in shares of Thermo Fisher Scientific by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock valued at $1,630,896,000 after purchasing an additional 65,586 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $558.12, for a total transaction of $5,581,200.00. Following the sale, the chief executive officer now owns 33,608 shares in the company, valued at approximately $18,757,296.96. This trade represents a 22.93 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 29,000 shares of company stock worth $15,859,540 over the last quarter. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the topic of several recent research reports. Robert W. Baird decreased their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company lowered their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Evercore ISI reduced their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Finally, TD Cowen raised their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $648.95.

Thermo Fisher Scientific Trading Up 6.8 %

NYSE TMO opened at $607.06 on Friday. The firm has a market cap of $232.20 billion, a PE ratio of 38.06, a price-to-earnings-growth ratio of 3.89 and a beta of 0.76. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average price of $537.83 and a 200 day moving average price of $570.33.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share buyback program on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.26%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

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.