Hoey Investments Inc. Sells 153 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Hoey Investments Inc. reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 970 shares of the medical research company’s stock after selling 153 shares during the period. Hoey Investments Inc.’s holdings in Thermo Fisher Scientific were worth $505,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Prudent Man Investment Management Inc. bought a new position in Thermo Fisher Scientific in the 4th quarter valued at about $93,000. Edmond DE Rothschild Holding S.A. grew its position in shares of Thermo Fisher Scientific by 1.0% in the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 36,267 shares of the medical research company’s stock valued at $18,867,000 after purchasing an additional 348 shares during the last quarter. AIA Group Ltd lifted its holdings in Thermo Fisher Scientific by 6.2% during the 4th quarter. AIA Group Ltd now owns 18,764 shares of the medical research company’s stock worth $9,762,000 after purchasing an additional 1,088 shares during the last quarter. Hazlett Burt & Watson Inc. grew its holdings in Thermo Fisher Scientific by 7.3% in the 4th quarter. Hazlett Burt & Watson Inc. now owns 1,480 shares of the medical research company’s stock valued at $771,000 after buying an additional 101 shares in the last quarter. Finally, RWA Wealth Partners LLC increased its position in Thermo Fisher Scientific by 3.5% during the 4th quarter. RWA Wealth Partners LLC now owns 6,903 shares of the medical research company’s stock worth $3,591,000 after buying an additional 233 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the sale, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $59,506,950.58. This trade represents a 7.99 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’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 transaction, the executive vice president now directly owns 16,363 shares in the company, valued at $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,900 shares of company stock worth $13,106,062 over the last ninety days. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $499.75 on Monday. The business has a 50 day moving average of $541.60 and a 200-day moving average of $551.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The company has a market capitalization of $188.53 billion, a P/E ratio of 30.23, a P/E/G ratio of 2.99 and a beta of 0.79.

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

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed 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. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.34%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.41%.

Analysts Set New Price Targets

Several equities analysts recently commented 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. Bank of America lowered their target price 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. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Scotiabank lifted their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a report on Monday, February 3rd. Finally, Morgan Stanley raised their price target on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $653.23.

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.