Groesbeck Investment Management Corp NJ Sells 350 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Groesbeck Investment Management Corp NJ trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,992 shares of the medical research company’s stock after selling 350 shares during the quarter. Thermo Fisher Scientific comprises about 2.0% of Groesbeck Investment Management Corp NJ’s holdings, making the stock its 13th biggest holding. Groesbeck Investment Management Corp NJ’s holdings in Thermo Fisher Scientific were worth $1,557,000 at the end of the most recent reporting period.

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

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $580.63 on Wednesday. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The company has a market cap of $222.09 billion, a P/E ratio of 35.13, a P/E/G ratio of 4.06 and a beta of 0.77. The firm’s fifty day moving average is $542.95 and its two-hundred day moving average is $571.55. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly 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 net margin of 14.78% and a return on equity of 17.51%. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 23.29 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis 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 presently 9.44%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase program on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to buy up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on TMO shares. Wells Fargo & Company upped their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Barclays lowered their price target on 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. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. 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 research report on Friday, January 31st. Finally, UBS Group raised their price objective on Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average price target of $658.00.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 9,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the sale, the chief executive officer now owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. This trade represents a 38.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.34% of the stock is currently 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.