Guinness Atkinson Asset Management Inc Has $6.08 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Guinness Atkinson Asset Management Inc boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.9% during the 4th quarter, Holdings Channel reports. The fund owned 11,692 shares of the medical research company’s stock after buying an additional 434 shares during the period. Thermo Fisher Scientific makes up 3.1% of Guinness Atkinson Asset Management Inc’s portfolio, making the stock its 18th largest holding. Guinness Atkinson Asset Management Inc’s holdings in Thermo Fisher Scientific were worth $6,083,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Guinness Asset Management LTD lifted its stake in shares of Thermo Fisher Scientific by 21.9% in the fourth quarter. Guinness Asset Management LTD now owns 71,763 shares of the medical research company’s stock valued at $37,331,000 after buying an additional 12,874 shares in the last quarter. Willner & Heller LLC boosted its stake in Thermo Fisher Scientific by 14.6% during the 4th quarter. Willner & Heller LLC now owns 431 shares of the medical research company’s stock valued at $224,000 after purchasing an additional 55 shares during the last quarter. Trueblood Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 2.7% in the fourth quarter. Trueblood Wealth Management LLC now owns 2,193 shares of the medical research company’s stock worth $1,141,000 after purchasing an additional 57 shares during the last quarter. Mechanics Bank Trust Department boosted its position in shares of Thermo Fisher Scientific by 21.9% during the fourth quarter. Mechanics Bank Trust Department now owns 2,660 shares of the medical research company’s stock valued at $1,384,000 after buying an additional 477 shares during the last quarter. Finally, Diversify Wealth Management LLC grew its holdings in Thermo Fisher Scientific by 15.9% during the fourth quarter. Diversify Wealth Management LLC now owns 4,113 shares of the medical research company’s stock worth $2,231,000 after buying an additional 564 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Barclays cut their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Morgan Stanley dropped their price target on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Evercore ISI reduced their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Finally, Sanford C. Bernstein raised 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 report on Friday, January 10th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $648.95.

Thermo Fisher Scientific Stock Down 0.4 %

Shares of NYSE TMO opened at $559.72 on Monday. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a market cap of $214.09 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.59 and a beta of 0.76. 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 business has a 50-day simple moving average of $529.96 and a two-hundred day simple moving average of $568.33.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.69 EPS. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were given a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share buyback plan on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. The trade was a 1.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the transaction, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,150 shares of company stock worth $25,954,465. Insiders own 0.34% of the company’s stock.

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.