Verdence Capital Advisors LLC Has $1.97 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Verdence Capital Advisors LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,777 shares of the medical research company’s stock after selling 270 shares during the period. Verdence Capital Advisors LLC’s holdings in Thermo Fisher Scientific were worth $1,965,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $26,000. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $27,000. Barrett & Company Inc. acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $28,000. Finally, Missouri Trust & Investment Co acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter worth approximately $29,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $524.63 on Thursday. The company has a market cap of $197.92 billion, a PE ratio of 31.74, a price-to-earnings-growth ratio of 2.99 and a beta of 0.77. 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 50-day simple moving average is $548.99 and its two-hundred day simple moving average is $563.46.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating 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%. Research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

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

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.43 per share. The ex-dividend date is Friday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.41%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TMO. 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 report on Friday, January 10th. Scotiabank lifted their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research note on Monday, February 3rd. Raymond James reiterated an “outperform” rating and issued a $667.00 price objective (up previously from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Morgan Stanley lifted their price objective on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Bank of America lowered their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $653.23.

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.