Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by Highland Capital Management LLC

Highland Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 33,979 shares of the medical research company’s stock after acquiring an additional 3,102 shares during the period. Thermo Fisher Scientific accounts for approximately 1.0% of Highland Capital Management LLC’s portfolio, making the stock its 18th biggest holding. Highland Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $17,677,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Legacy Investment Solutions LLC acquired a new stake in Thermo Fisher Scientific in the third quarter worth approximately $26,000. Peterson Financial Group Inc. acquired a new stake in Thermo Fisher Scientific in the third quarter worth approximately $27,000. Missouri Trust & Investment Co acquired a new stake in Thermo Fisher Scientific in the fourth quarter worth approximately $29,000. Endeavor Private Wealth Inc. acquired a new stake in Thermo Fisher Scientific in the fourth quarter worth approximately $30,000. Finally, Decker Retirement Planning Inc. acquired a new stake in Thermo Fisher Scientific in the fourth quarter worth approximately $43,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 2.9 %

Thermo Fisher Scientific stock opened at $567.09 on Thursday. The company has a market capitalization of $216.91 billion, a price-to-earnings ratio of 35.55, a PEG ratio of 3.82 and a beta of 0.76. The company’s fifty day moving average price is $536.74 and its two-hundred day moving average price is $570.35. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s payout ratio is presently 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share repurchase 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 buy up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Stifel Nicolaus cut their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Robert W. Baird cut their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Morgan Stanley cut their price objective on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. TD Cowen increased their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Finally, Evercore ISI reduced their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report 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. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, December 2nd. The shares were 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 owns 111,192 shares in the company, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last 90 days, insiders sold 34,850 shares of company stock worth $19,123,197. Company insiders own 0.34% of the company’s stock.

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.