R Squared Ltd Invests $442,000 in Thermo Fisher Scientific Inc. (NYSE:TMO)

R Squared Ltd acquired a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) in the 4th quarter, HoldingsChannel.com reports. The fund acquired 850 shares of the medical research company’s stock, valued at approximately $442,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Driehaus Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 75.0% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,524 shares of the medical research company’s stock worth $843,000 after purchasing an additional 653 shares in the last quarter. Quarry LP lifted its holdings in shares of Thermo Fisher Scientific by 86.2% in the second quarter. Quarry LP now owns 121 shares of the medical research company’s stock worth $67,000 after buying an additional 56 shares in the last quarter. EP Wealth Advisors LLC grew its stake in Thermo Fisher Scientific by 5.8% during the second quarter. EP Wealth Advisors LLC now owns 14,991 shares of the medical research company’s stock valued at $8,290,000 after acquiring an additional 816 shares in the last quarter. Pathway Financial Advisers LLC increased its holdings in Thermo Fisher Scientific by 2.3% during the 2nd quarter. Pathway Financial Advisers LLC now owns 1,450 shares of the medical research company’s stock worth $783,000 after acquiring an additional 33 shares during the period. Finally, Advisory Alpha LLC boosted its holdings in Thermo Fisher Scientific by 34.7% in the 2nd quarter. Advisory Alpha LLC now owns 1,049 shares of the medical research company’s stock valued at $580,000 after purchasing an additional 270 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.1 %

Shares of NYSE:TMO opened at $584.38 on Wednesday. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 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. The stock’s 50-day moving average is $535.24 and its 200 day moving average is $570.10. The company has a market cap of $223.52 billion, a PE ratio of 36.64, a P/E/G ratio of 3.82 and a beta of 0.76.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.27%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.78%.

Thermo Fisher Scientific announced that its board has authorized a share buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on TMO shares. Evercore ISI lowered their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird dropped their price target 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. TD Cowen raised their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Bernstein Bank boosted their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company dropped their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $648.95.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on 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 approximately $18,757,296.96. This represents a 22.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In the last ninety days, insiders have sold 34,850 shares of company stock valued at $19,123,197. 0.34% of the stock is currently owned by company insiders.

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.