Nvest Financial LLC Sells 39 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Nvest Financial LLC lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,726 shares of the medical research company’s stock after selling 39 shares during the quarter. Nvest Financial LLC’s holdings in Thermo Fisher Scientific were worth $1,418,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its stake in shares of Thermo Fisher Scientific by 76,051.4% during the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after acquiring an additional 1,414,556 shares in the last quarter. FMR LLC raised its position in Thermo Fisher Scientific by 19.7% during the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after purchasing an additional 1,294,453 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth $254,412,000. Lindsell Train Ltd purchased a new position in shares of Thermo Fisher Scientific during the fourth quarter valued at $211,858,000. Finally, Franklin Resources Inc. lifted its stake in Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after acquiring an additional 262,062 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Up 0.1 %

Thermo Fisher Scientific stock opened at $584.38 on Wednesday. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The company has a market cap of $223.52 billion, a PE ratio of 36.64, a PEG 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 business’s 50-day simple moving average is $536.74 and its two-hundred day simple moving average is $570.35.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share buyback plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders 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 yield of 0.27%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was 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 $18,757,296.96. The trade was a 22.93 % decrease in their position. The sale 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 ninety days. Insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on TMO. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Bank of America reduced their price objective on shares of 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. Royal Bank of Canada dropped their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays decreased their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Finally, Evercore ISI cut their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $648.95.

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.