Dakota Wealth Management Lowers Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Dakota Wealth Management cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,285 shares of the medical research company’s stock after selling 642 shares during the quarter. Dakota Wealth Management’s holdings in Thermo Fisher Scientific were worth $3,270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC boosted its stake in Thermo Fisher Scientific by 76,051.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock worth $876,152,000 after purchasing an additional 1,414,556 shares in the last quarter. FMR LLC lifted its stake in shares of Thermo Fisher Scientific by 19.7% in the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after buying an additional 1,294,453 shares in the last quarter. Ameriprise Financial Inc. lifted its position in Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after acquiring an additional 604,895 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Thermo Fisher Scientific in the third quarter worth $254,412,000. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Thermo Fisher Scientific by 743.6% during the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after purchasing an additional 296,646 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Stephens began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective on the stock. Bank of America cut 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. Wells Fargo & Company dropped their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird reduced their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Scotiabank assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, December 23rd. They set a “sector perform” rating and a $605.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the company’s 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 transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO opened at $574.72 on Thursday. The firm has a fifty day simple moving average of $530.86 and a two-hundred day simple moving average of $568.96. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $219.83 billion, a P/E ratio of 36.03, a PEG ratio of 3.81 and a beta of 0.76. 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 issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the prior year, the business posted $5.69 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has approved a share buyback program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.