ARS Wealth Advisors Group LLC trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 11.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 1,538 shares of the medical research company’s stock after selling 190 shares during the period. ARS Wealth Advisors Group LLC’s holdings in Thermo Fisher Scientific were worth $800,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of TMO. S.E.E.D. Planning Group LLC raised its position in shares of Thermo Fisher Scientific by 6.2% in the fourth quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock valued at $5,528,000 after buying an additional 618 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its stake in Thermo Fisher Scientific by 74.7% in the 4th quarter. Thurston Springer Miller Herd & Titak Inc. now owns 166 shares of the medical research company’s stock worth $86,000 after buying an additional 71 shares during the last quarter. Rockland Trust Co. grew its holdings in Thermo Fisher Scientific by 5.7% in the 4th quarter. Rockland Trust Co. now owns 32,059 shares of the medical research company’s stock valued at $16,678,000 after buying an additional 1,721 shares during the period. Fifth Third Wealth Advisors LLC lifted its holdings in shares of Thermo Fisher Scientific by 78.7% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 6,964 shares of the medical research company’s stock worth $3,623,000 after acquiring an additional 3,067 shares during the period. Finally, CCLA Investment Management boosted its position in shares of Thermo Fisher Scientific by 3.6% in the fourth quarter. CCLA Investment Management now owns 258,571 shares of the medical research company’s stock worth $134,498,000 after acquiring an additional 8,985 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the sale, the chief executive officer now directly owns 111,192 shares of the company’s stock, valued at $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is owned by insiders.
Thermo Fisher Scientific Stock Performance
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter last year, the business posted $5.69 earnings per share. The company’s quarterly revenue was up .2% on a year-over-year basis. Research analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.
Thermo Fisher Scientific announced that its Board of Directors has approved a stock buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.
Thermo Fisher Scientific Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.28%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.
Wall Street Analyst Weigh In
A number of research firms have weighed in on TMO. Stephens assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Morgan Stanley dropped their price target on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a research note on Monday. Stifel Nicolaus reduced their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Bank of America cut their price target on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $648.95.
View Our Latest Stock Report on Thermo Fisher Scientific
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.
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