Thermo Fisher Scientific Inc. (NYSE:TMO) Holdings Reduced by Pinnacle Financial Partners Inc

Pinnacle Financial Partners Inc decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 56,890 shares of the medical research company’s stock after selling 49 shares during the period. Pinnacle Financial Partners Inc’s holdings in Thermo Fisher Scientific were worth $30,663,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in TMO. AMF Tjanstepension AB acquired a new position in shares of Thermo Fisher Scientific during the third quarter valued at approximately $42,409,000. Howard Capital Management Group LLC grew its position in Thermo Fisher Scientific by 0.5% in the third quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company’s stock worth $33,759,000 after buying an additional 286 shares during the last quarter. Grimes & Company Inc. grew its position in Thermo Fisher Scientific by 3.2% in the third quarter. Grimes & Company Inc. now owns 2,390 shares of the medical research company’s stock worth $1,479,000 after buying an additional 74 shares during the last quarter. Mcdaniel Terry & Co. grew its position in Thermo Fisher Scientific by 3.2% in the third quarter. Mcdaniel Terry & Co. now owns 29,700 shares of the medical research company’s stock worth $18,372,000 after buying an additional 911 shares during the last quarter. Finally, DT Investment Partners LLC grew its position in Thermo Fisher Scientific by 3.6% in the third quarter. DT Investment Partners LLC now owns 1,364 shares of the medical research company’s stock worth $844,000 after buying an additional 48 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Down 1.0 %

Thermo Fisher Scientific stock opened at $532.55 on Friday. The stock has a market capitalization of $203.70 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 2.99 and a beta of 0.77. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $548.47 and a 200-day moving average of $567.70.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share 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%. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

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

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.32%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.44%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the transaction, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the firm’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 transaction, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of recent analyst reports. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Scotiabank lifted their target price on shares of 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. Morgan Stanley lifted 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. Raymond James restated an “outperform” rating and set a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Finally, Wells Fargo & Company lifted their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $658.00.

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.