Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 19,431 shares of the medical research company’s stock after acquiring an additional 693 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Thermo Fisher Scientific were worth $10,109,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of TMO. IFG Advisors LLC raised its position in shares of Thermo Fisher Scientific by 3.3% in the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 17 shares in the last quarter. Stonegate Investment Group LLC raised its holdings in Thermo Fisher Scientific by 0.3% in the fourth quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock valued at $3,531,000 after acquiring an additional 18 shares in the last quarter. Trivant Custom Portfolio Group LLC boosted its stake in Thermo Fisher Scientific by 0.4% during the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company’s stock valued at $2,720,000 after acquiring an additional 19 shares during the last quarter. Axiom Advisory LLC increased its position in shares of Thermo Fisher Scientific by 1.6% in the 3rd quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock worth $720,000 after purchasing an additional 19 shares during the last quarter. Finally, Angeles Wealth Management LLC raised its stake in shares of Thermo Fisher Scientific by 0.5% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock valued at $2,425,000 after purchasing an additional 19 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on TMO shares. Wells Fargo & Company cut their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. TD Cowen boosted their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Stifel Nicolaus decreased their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, Robert W. Baird reduced 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. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $648.95.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the transaction, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 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 Price Performance

Shares of NYSE:TMO opened at $584.38 on Wednesday. The company has a market cap of $223.52 billion, a price-to-earnings ratio of 36.64, a PEG ratio of 3.82 and a beta of 0.76. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The business has a 50 day moving average price of $535.24 and a 200 day moving average price of $570.10. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific Dividend Announcement

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

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

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.