Lake Street Advisors Group LLC Purchases 292 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Lake Street Advisors Group LLC boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,492 shares of the medical research company’s stock after purchasing an additional 292 shares during the period. Lake Street Advisors Group LLC’s holdings in Thermo Fisher Scientific were worth $2,338,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TMO. Legacy Investment Solutions LLC bought a new stake in Thermo Fisher Scientific during the third quarter valued at approximately $26,000. Peterson Financial Group Inc. purchased a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth $27,000. Barrett & Company Inc. purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth $28,000. FPC Investment Advisory Inc. bought a new position in Thermo Fisher Scientific in the 4th quarter worth $28,000. Finally, Missouri Trust & Investment Co purchased a new position in Thermo Fisher Scientific during the fourth quarter valued at $29,000. 89.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the sale, the executive vice president now owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the transaction, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,125 shares of company stock worth $11,231,699 over the last three months. 0.34% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on TMO. Bank of America decreased their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research note on Friday, December 13th. Citigroup lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Scotiabank increased their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research note on Monday, February 3rd. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley increased their price target on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $656.86.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $539.86 on Wednesday. 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 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average is $548.80 and its 200 day moving average is $566.46. The company has a market cap of $206.50 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 2.99 and a beta of 0.77.

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

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

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a yield of 0.32%. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio is presently 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.