Lowe Brockenbrough & Co. Inc. Sells 754 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Lowe Brockenbrough & Co. Inc. decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,225 shares of the medical research company’s stock after selling 754 shares during the period. Thermo Fisher Scientific comprises about 1.0% of Lowe Brockenbrough & Co. Inc.’s investment portfolio, making the stock its 23rd biggest holding. Lowe Brockenbrough & Co. Inc.’s holdings in Thermo Fisher Scientific were worth $16,257,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Legacy Investment Solutions LLC bought a new position in Thermo Fisher Scientific during the 3rd quarter valued at about $26,000. Barrett & Company Inc. purchased a new stake in Thermo Fisher Scientific in the fourth quarter worth approximately $28,000. FPC Investment Advisory Inc. bought a new stake in Thermo Fisher Scientific in the 4th quarter worth approximately $28,000. Missouri Trust & Investment Co bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $29,000. Finally, Pillar Financial Advisors LLC purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter worth $29,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Up 0.0 %

Shares of TMO stock opened at $518.58 on Friday. The stock has a market cap of $195.64 billion, a P/E ratio of 31.37, a PEG ratio of 2.99 and a beta of 0.79. The company’s fifty day simple moving average is $546.65 and its two-hundred day simple moving average is $556.94. 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.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share 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%. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.43 dividend. The ex-dividend date is Friday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.33%. Thermo Fisher Scientific’s payout ratio is 10.41%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 3,775 shares of Thermo Fisher Scientific stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 10,816 shares of the company’s stock, valued at $5,759,736.32. The trade was a 25.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction on Tuesday, February 4th. The shares were 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 directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,900 shares of company stock valued at $13,106,062. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank of Canada set a $693.00 target price on Thermo Fisher Scientific in a research report on Friday, January 31st. Wells Fargo & Company boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Scotiabank increased their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research report on Monday, February 3rd. Bank of America reduced their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, Morgan Stanley lifted their target price 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. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $653.23.

About Thermo Fisher Scientific

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.