Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 60,997 shares of the medical research company’s stock after selling 360 shares during the period. Peapack Gladstone Financial Corp’s holdings in Thermo Fisher Scientific were worth $31,734,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Legacy Investment Solutions LLC bought a new position in Thermo Fisher Scientific during the 3rd quarter worth approximately $26,000. Barrett & Company Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter worth $28,000. FPC Investment Advisory Inc. acquired a new position in Thermo Fisher Scientific in the fourth quarter worth $28,000. Missouri Trust & Investment Co acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth $29,000. Finally, Pillar Financial Advisors LLC acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at about $29,000. Institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the sale, the chief executive officer now directly owns 115,174 shares of the company’s stock, valued at $59,506,950.58. This represents a 7.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Boxer sold 3,775 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $532.52, for a total transaction of $2,010,263.00. Following the transaction, the senior vice president now directly owns 10,816 shares in the company, valued at $5,759,736.32. The trade was a 25.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 23,900 shares of company stock worth $13,106,062. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Down 6.9 %

Thermo Fisher Scientific stock opened at $437.71 on Friday. The firm has a market cap of $165.13 billion, a price-to-earnings ratio of 26.48, a price-to-earnings-growth ratio of 2.99 and a beta of 0.86. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The firm’s 50 day moving average price is $532.01 and its two-hundred day moving average price is $547.47. Thermo Fisher Scientific Inc. has a 1 year low of $437.22 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results 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 return on equity of 17.51% and a net margin of 14.78%. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be paid a $0.43 dividend. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a yield of 0.39%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.41%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TMO shares. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price on the stock in a report on Friday, January 10th. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. UBS Group boosted their price target on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a report on Friday, January 31st. Bank of America cut their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Finally, Morgan Stanley lifted their price target on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company 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 issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $653.23.

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.