Oppenheimer Asset Management Inc. Sells 5,604 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Oppenheimer Asset Management Inc. lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,739 shares of the medical research company’s stock after selling 5,604 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Thermo Fisher Scientific were worth $44,084,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in TMO. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at $26,000. Peterson Financial Group Inc. acquired a new position in Thermo Fisher Scientific in the 3rd quarter worth $27,000. Barrett & Company Inc. acquired a new position in Thermo Fisher Scientific in the 4th quarter worth $28,000. FPC Investment Advisory Inc. acquired a new position in Thermo Fisher Scientific in the 4th quarter worth $28,000. Finally, Missouri Trust & Investment Co acquired a new position in Thermo Fisher Scientific in the 4th quarter worth $29,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 1.2 %

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

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping 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, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.43 per share. 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 dividend yield of 0.32%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.41%.

Thermo Fisher Scientific announced that its board has initiated a stock buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of research analyst reports. Citigroup upped their target price 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. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Wells Fargo & Company increased their price objective on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Scotiabank increased their price objective on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a research note on Monday, February 3rd. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $656.86.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the 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 approximately $9,582,009.17. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the sale, the chief executive officer now owns 111,192 shares in the company, valued at $58,960,669.92. This represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,125 shares of company stock valued at $11,231,699. 0.34% of the stock is currently owned by company insiders.

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.