Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by Edge Capital Group LLC

Edge Capital Group LLC boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,862 shares of the medical research company’s stock after purchasing an additional 197 shares during the quarter. Edge Capital Group LLC’s holdings in Thermo Fisher Scientific were worth $1,489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TMO. Stonegate Investment Group LLC raised its stake in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock worth $3,531,000 after buying an additional 18 shares in the last quarter. Semus Wealth Partners LLC raised its stake in shares of Thermo Fisher Scientific by 4.0% during the 4th quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock worth $245,000 after buying an additional 18 shares in the last quarter. Angeles Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 0.5% during the 3rd quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock worth $2,425,000 after buying an additional 19 shares in the last quarter. Bangor Savings Bank raised its stake in shares of Thermo Fisher Scientific by 6.0% during the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after buying an additional 19 shares in the last quarter. Finally, Eagle Rock Investment Company LLC raised its stake in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock worth $3,882,000 after buying an additional 19 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TMO. Royal Bank of Canada set a $693.00 price objective on Thermo Fisher Scientific in a report on Friday, January 31st. Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Scotiabank lifted their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, Wells Fargo & Company lifted their price objective on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned 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.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of the business’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the completion of the sale, the chief financial officer now owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,125 shares of company stock valued at $11,231,699. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $532.55 on Monday. The company has a market cap of $203.70 billion, a P/E ratio of 32.22, a P/E/G ratio of 2.99 and a beta of 0.77. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The business has a fifty day simple moving average of $548.47 and a 200-day simple moving average of $567.32.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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 return on equity of 17.51% and a net margin of 14.78%. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 0.32%. The ex-dividend date is Friday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s payout ratio is 10.41%.

Thermo Fisher Scientific declared that its Board of Directors has approved a share buyback program 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 programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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.