Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Drive Wealth Management LLC

Drive Wealth Management LLC reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 17.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,749 shares of the medical research company’s stock after selling 360 shares during the period. Drive Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $910,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific during the third quarter valued at about $26,000. Peterson Financial Group Inc. bought a new position in shares of Thermo Fisher Scientific during the third quarter worth about $27,000. Missouri Trust & Investment Co bought a new position in shares of Thermo Fisher Scientific during the fourth quarter worth about $29,000. Endeavor Private Wealth Inc. bought a new position in shares of Thermo Fisher Scientific during the fourth quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Thermo Fisher Scientific during the third quarter worth about $50,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a research report on Friday, January 10th. Morgan Stanley cut their target price on shares of Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Evercore ISI cut their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Robert W. Baird cut their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company cut their price target on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Four equities research 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 company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $648.95.

Thermo Fisher Scientific Trading Up 0.1 %

TMO stock opened at $575.21 on Monday. 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 company’s 50-day simple moving average is $533.60 and its 200 day simple moving average is $569.58. 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 capitalization of $220.02 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 3.82 and a beta of 0.76.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. Thermo Fisher Scientific’s payout ratio is 9.78%.

Thermo Fisher Scientific announced that its board has authorized a share repurchase plan on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 5,850 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $557.89, for a total value of $3,263,656.50. Following the completion of the transaction, the chief executive officer now owns 121,192 shares of the company’s stock, valued at approximately $67,611,804.88. This represents a 4.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 34,850 shares of company stock worth $19,123,197 over the last ninety days. Corporate 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.