Cornell Pochily Investment Advisors Inc. Cuts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cornell Pochily Investment Advisors Inc. decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,368 shares of the medical research company’s stock after selling 33 shares during the quarter. Thermo Fisher Scientific makes up 1.2% of Cornell Pochily Investment Advisors Inc.’s holdings, making the stock its 20th biggest position. Cornell Pochily Investment Advisors Inc.’s holdings in Thermo Fisher Scientific were worth $3,313,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. James Hambro & Partners LLP raised its position in shares of Thermo Fisher Scientific by 6.1% in the fourth quarter. James Hambro & Partners LLP now owns 222,204 shares of the medical research company’s stock valued at $115,606,000 after buying an additional 12,751 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Thermo Fisher Scientific by 9.1% during the 4th quarter. Pacer Advisors Inc. now owns 31,559 shares of the medical research company’s stock worth $16,418,000 after purchasing an additional 2,642 shares during the last quarter. United Asset Strategies Inc. increased its holdings in shares of Thermo Fisher Scientific by 4.3% in the fourth quarter. United Asset Strategies Inc. now owns 27,269 shares of the medical research company’s stock valued at $14,186,000 after purchasing an additional 1,118 shares during the last quarter. Cornerstone Wealth Group LLC boosted its stake in Thermo Fisher Scientific by 4.2% during the fourth quarter. Cornerstone Wealth Group LLC now owns 1,089 shares of the medical research company’s stock worth $567,000 after buying an additional 44 shares during the last quarter. Finally, Union Bancaire Privee UBP SA acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth $71,877,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 0.1 %

NYSE TMO opened at $575.21 on Monday. The company has a market capitalization of $220.02 billion, a price-to-earnings ratio of 36.06, a price-to-earnings-growth ratio of 3.82 and a beta of 0.76. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The firm’s fifty day moving average price is $533.60 and its 200 day moving average price is $569.81. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific declared that its board has authorized a share repurchase plan on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada dropped their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a research report on Friday, January 10th. Evercore ISI lowered their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Scotiabank assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 target price on the stock. Finally, TD Cowen boosted their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $648.95.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific 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 transaction, the chief executive officer now directly owns 33,608 shares in the company, valued at approximately $18,757,296.96. This trade represents a 22.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 34,850 shares of company stock worth $19,123,197 in the last 90 days. Company insiders own 0.34% of the company’s stock.

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.