Processus Wealth & Capital Management LLC Raises Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Processus Wealth & Capital Management LLC raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 5,973 shares of the medical research company’s stock after buying an additional 68 shares during the period. Thermo Fisher Scientific comprises about 2.5% of Processus Wealth & Capital Management LLC’s portfolio, making the stock its 16th largest holding. Processus Wealth & Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $3,107,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in TMO. Stonegate Investment Group LLC lifted its stake in Thermo Fisher Scientific by 0.3% in the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock valued at $3,531,000 after buying an additional 18 shares in the last quarter. Semus Wealth Partners LLC boosted its position in shares of Thermo Fisher Scientific by 4.0% in the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock worth $245,000 after acquiring an additional 18 shares during the last quarter. Angeles Wealth Management LLC raised its position 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 worth $2,425,000 after buying an additional 19 shares during the period. Bangor Savings Bank lifted its position in Thermo Fisher Scientific by 6.0% during the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after buying an additional 19 shares in the last quarter. Finally, Eagle Rock Investment Company LLC boosted its position in Thermo Fisher Scientific by 0.3% during the 4th quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock worth $3,882,000 after purchasing an additional 19 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $535.55 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The firm’s 50-day simple moving average is $548.58 and its 200-day simple moving average is $566.86. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The firm has a market cap of $204.85 billion, a P/E ratio of 32.40, a price-to-earnings-growth ratio of 2.99 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.32%. Thermo Fisher Scientific’s payout ratio is currently 10.41%.

Thermo Fisher Scientific announced that its Board of Directors has approved 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 reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on TMO shares. Raymond James restated an “outperform” rating and issued a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a research note on Monday, February 3rd. Morgan Stanley upped their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Royal Bank of Canada set a $693.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 31st. Citigroup increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. Finally, UBS Group raised their price target on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $656.86.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the sale, the chief executive officer now directly owns 111,192 shares of the company’s stock, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Stephen Williamson sold 9,825 shares of the business’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the transaction, the chief financial officer now owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 20,125 shares of company stock valued at $11,231,699. 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.