Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by Red Spruce Capital LLC

Red Spruce Capital LLC raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 20.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,837 shares of the medical research company’s stock after buying an additional 311 shares during the quarter. Red Spruce Capital LLC’s holdings in Thermo Fisher Scientific were worth $956,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sheets Smith Wealth Management raised its holdings in Thermo Fisher Scientific by 13.9% during the fourth quarter. Sheets Smith Wealth Management now owns 2,904 shares of the medical research company’s stock worth $1,511,000 after purchasing an additional 355 shares during the last quarter. Beaumont Financial Advisors LLC raised its stake in shares of Thermo Fisher Scientific by 24.8% during the 4th quarter. Beaumont Financial Advisors LLC now owns 2,021 shares of the medical research company’s stock worth $1,052,000 after buying an additional 402 shares during the last quarter. MCF Advisors LLC grew its stake in Thermo Fisher Scientific by 19.0% in the 4th quarter. MCF Advisors LLC now owns 3,515 shares of the medical research company’s stock valued at $1,830,000 after acquiring an additional 560 shares during the last quarter. Commons Capital LLC raised its position in Thermo Fisher Scientific by 2.3% during the fourth quarter. Commons Capital LLC now owns 2,518 shares of the medical research company’s stock worth $1,310,000 after acquiring an additional 56 shares during the last quarter. Finally, Howard Capital Management Group LLC grew its position in shares of Thermo Fisher Scientific by 1.2% in the fourth quarter. Howard Capital Management Group LLC now owns 55,232 shares of the medical research company’s stock valued at $28,733,000 after purchasing an additional 657 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 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 transaction of $1,120,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at $58,960,669.92. The trade was a 8.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock worth $25,954,465 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on TMO shares. Scotiabank started coverage on Thermo Fisher Scientific in a report on Monday, December 23rd. They set a “sector perform” rating and a $605.00 target price on the stock. Stephens began coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Stifel Nicolaus reduced their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company reduced their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Bernstein Bank boosted their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $648.95.

Thermo Fisher Scientific Stock Up 2.4 %

Shares of Thermo Fisher Scientific stock opened at $572.85 on Wednesday. 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 moving average price of $530.22 and a 200 day moving average price of $568.73. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The firm has a market cap of $219.11 billion, a P/E ratio of 35.92, a P/E/G ratio of 3.71 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The company 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 firm’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.69 earnings per share. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has approved 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 buy 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 Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Thermo Fisher Scientific 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.