Convergence Financial LLC Grows Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Convergence Financial LLC increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,045 shares of the medical research company’s stock after buying an additional 103 shares during the quarter. Convergence Financial LLC’s holdings in Thermo Fisher Scientific were worth $1,584,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cable Hill Partners LLC raised its stake in shares of Thermo Fisher Scientific by 14.8% during the fourth quarter. Cable Hill Partners LLC now owns 1,288 shares of the medical research company’s stock valued at $670,000 after purchasing an additional 166 shares during the period. Heritage Investors Management Corp lifted its holdings in Thermo Fisher Scientific by 13.1% in the 4th quarter. Heritage Investors Management Corp now owns 48,904 shares of the medical research company’s stock worth $25,441,000 after buying an additional 5,651 shares in the last quarter. SRN Advisors LLC acquired a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at about $237,000. Whipplewood Advisors LLC acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter worth about $302,000. Finally, NewEdge Wealth LLC boosted its holdings in Thermo Fisher Scientific by 6.1% in the fourth quarter. NewEdge Wealth LLC now owns 13,964 shares of the medical research company’s stock valued at $7,264,000 after purchasing an additional 797 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Thermo Fisher Scientific news, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 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 $175,677.00. Following the sale, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. This represents a 1.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,125 shares of company stock worth $11,231,699. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 1.2 %

Thermo Fisher Scientific stock opened at $533.00 on Thursday. The company’s 50-day moving average price is $549.14 and its two-hundred day moving average price is $566.23. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The stock has a market cap of $201.08 billion, a price-to-earnings ratio of 32.24, a PEG ratio of 2.99 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88.

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

Thermo Fisher Scientific announced that its Board of Directors has approved a stock buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms have recently commented on TMO. Scotiabank increased their target price on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research note on Monday, February 3rd. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Citigroup increased their price target on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a research report on Friday, January 31st. Bank of America lowered their price objective on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a report on Friday, December 13th. Finally, Raymond James reiterated an “outperform” rating and issued a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average target price of $656.86.

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.