Trust Point Inc. Lowers Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Trust Point Inc. lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,069 shares of the medical research company’s stock after selling 28 shares during the period. Trust Point Inc.’s holdings in Thermo Fisher Scientific were worth $1,076,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Geode Capital Management LLC increased its stake in Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after purchasing an additional 127,564 shares in the last quarter. Coldstream Capital Management Inc. increased its stake in Thermo Fisher Scientific by 11.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock valued at $5,972,000 after purchasing an additional 995 shares in the last quarter. Greenwood Gearhart Inc. increased its stake in Thermo Fisher Scientific by 9.8% during the 3rd quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock valued at $12,730,000 after purchasing an additional 1,837 shares in the last quarter. Nordea Investment Management AB increased its stake in shares of Thermo Fisher Scientific by 23.6% in the fourth quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock worth $28,868,000 after acquiring an additional 10,606 shares during the period. Finally, S.E.E.D. Planning Group LLC increased its stake in shares of Thermo Fisher Scientific by 6.2% in the fourth quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock worth $5,528,000 after acquiring an additional 618 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $593.38 on Tuesday. The company’s 50-day moving average price is $541.37 and its 200-day moving average price is $571.18. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The company has a market cap of $226.97 billion, a P/E ratio of 35.90, a P/E/G ratio of 4.06 and a beta of 0.77. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.29 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has approved a stock buyback plan on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.26%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.44%.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $558.12, for a total value of $5,581,200.00. Following the completion of the transaction, the chief executive officer now owns 33,608 shares of the company’s stock, valued at approximately $18,757,296.96. This trade represents a 22.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Over the last ninety days, insiders sold 29,000 shares of company stock worth $15,859,540. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Bernstein Bank increased their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Scotiabank increased their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research note on Monday. Royal Bank of Canada lowered their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Morgan Stanley increased their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Robert W. Baird lowered their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $658.00.

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.