Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Lowered by Atticus Wealth Management LLC

Atticus Wealth Management LLC lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 40.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 120 shares of the medical research company’s stock after selling 80 shares during the period. Atticus Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $63,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Legacy Investment Solutions LLC purchased a new stake in Thermo Fisher Scientific in the 3rd quarter worth approximately $26,000. Peterson Financial Group Inc. acquired a new position in Thermo Fisher Scientific in the third quarter worth approximately $27,000. Missouri Trust & Investment Co bought a new stake in Thermo Fisher Scientific in the fourth quarter worth approximately $29,000. Endeavor Private Wealth Inc. acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Thermo Fisher Scientific during the third quarter valued at about $50,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.1 %

Shares of NYSE:TMO opened at $575.21 on Monday. The company has a market capitalization of $220.02 billion, a PE ratio of 36.06, a P/E/G ratio of 3.82 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The company’s fifty day moving average is $533.60 and its 200-day moving average is $569.58. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

Thermo Fisher Scientific announced that its board has approved a stock 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 board of directors believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on TMO shares. Bernstein Bank raised their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Evercore ISI reduced their price objective on shares of 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. Stephens assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 target price on the stock. Barclays decreased their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus lowered their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $648.95.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the transaction, the chief executive officer now directly owns 111,192 shares of the company’s stock, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders have sold 34,850 shares of company stock valued at $19,123,197 in the last three months. 0.34% of the stock is owned by corporate insiders.

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.