M. Kulyk & Associates LLC lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) by 4.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 541 shares of the medical research company's stock after acquiring an additional 24 shares during the quarter. M. Kulyk & Associates LLC's holdings in Thermo Fisher Scientific were worth $274,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Grayhawk Investment Strategies Inc. bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $26,000. Lowe Wealth Advisors LLC boosted its stake in Thermo Fisher Scientific by 160.0% in the 3rd quarter. Lowe Wealth Advisors LLC now owns 52 shares of the medical research company's stock worth $26,000 after purchasing an additional 32 shares during the period. Tortoise Investment Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 410.0% in the second quarter. Tortoise Investment Management LLC now owns 51 shares of the medical research company's stock worth $28,000 after buying an additional 41 shares in the last quarter. Better Money Decisions LLC purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth $29,000. Finally, New Millennium Group LLC bought a new stake in Thermo Fisher Scientific in the second quarter worth $29,000. Hedge funds and other institutional investors own 85.92% of the company's stock.
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Insider Transactions at Thermo Fisher Scientific
In other news, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction on Monday, October 31st. The shares were sold at an average price of $509.97, for a total value of $5,099,700.00. Following the sale, the chief executive officer now owns 178,005 shares of the company's stock, valued at $90,777,209.85. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Marc N. Casper sold 8,200 shares of the business's stock in a transaction dated Thursday, November 3rd. The stock was sold at an average price of $487.45, for a total transaction of $3,997,090.00. Following the sale, the chief executive officer now directly owns 178,005 shares in the company, valued at $86,768,537.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $509.97, for a total value of $5,099,700.00. Following the completion of the sale, the chief executive officer now owns 178,005 shares in the company, valued at $90,777,209.85. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,475 shares of company stock worth $16,073,443. Insiders own 0.43% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on TMO shares. SVB Leerink increased their price target on Thermo Fisher Scientific from $555.00 to $620.00 and gave the stock an "outperform" rating in a report on Friday, January 6th. Barclays upped their price target on Thermo Fisher Scientific from $570.00 to $630.00 and gave the stock an "overweight" rating in a report on Tuesday. Benchmark cut Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a report on Thursday, October 27th. Royal Bank of Canada began coverage on Thermo Fisher Scientific in a research note on Tuesday, December 6th. They issued an "outperform" rating and a $661.00 price target on the stock. Finally, Wells Fargo & Company lowered their target price on Thermo Fisher Scientific from $525.00 to $505.00 and set an "underweight" rating for the company in a report on Tuesday, January 3rd. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific has an average rating of "Moderate Buy" and a consensus price target of $633.30.
Thermo Fisher Scientific Price Performance
Thermo Fisher Scientific stock traded down $8.19 during mid-day trading on Friday, hitting $569.18. The company's stock had a trading volume of 389,886 shares, compared to its average volume of 1,869,877. The stock's fifty day moving average price is $558.46 and its two-hundred day moving average price is $548.34. The stock has a market capitalization of $223.23 billion, a P/E ratio of 32.03, a P/E/G ratio of 2.01 and a beta of 0.83. Thermo Fisher Scientific Inc. has a twelve month low of $475.77 and a twelve month high of $618.35. The company has a quick ratio of 1.22, a current ratio of 1.74 and a debt-to-equity ratio of 0.65.
Thermo Fisher Scientific (NYSE:TMO – Get Rating) last released its quarterly earnings results on Wednesday, October 26th. The medical research company reported $5.08 EPS for the quarter, beating analysts' consensus estimates of $4.78 by $0.30. Thermo Fisher Scientific had a net margin of 15.92% and a return on equity of 22.97%. The company had revenue of $10.68 billion for the quarter, compared to analyst estimates of $9.86 billion. Research analysts forecast that Thermo Fisher Scientific Inc. will post 23.04 earnings per share for the current year.
Thermo Fisher Scientific declared that its Board of Directors has initiated a share buyback plan on Thursday, November 10th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's management believes its shares are undervalued.
Thermo Fisher Scientific Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, January 16th. Shareholders of record on Thursday, December 15th were paid a dividend of $0.30 per share. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $1.20 annualized dividend and a yield of 0.21%. Thermo Fisher Scientific's dividend payout ratio is 6.75%.
About Thermo Fisher Scientific
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Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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