QRG Capital Management Inc. Trims Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

QRG Capital Management Inc. lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 38,137 shares of the medical research company’s stock after selling 5,695 shares during the period. QRG Capital Management Inc.’s holdings in Thermo Fisher Scientific were worth $19,840,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in Thermo Fisher Scientific in the 3rd quarter valued at about $26,000. Peterson Financial Group Inc. purchased a new stake in Thermo Fisher Scientific in the 3rd quarter valued at about $27,000. Barrett & Company Inc. purchased a new stake in Thermo Fisher Scientific in the 4th quarter valued at about $28,000. FPC Investment Advisory Inc. purchased a new stake in Thermo Fisher Scientific in the 4th quarter valued at about $28,000. Finally, Missouri Trust & Investment Co purchased a new stake in Thermo Fisher Scientific in the 4th quarter valued at about $29,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was 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 in the company, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the transaction, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 20,125 shares of company stock worth $11,231,699. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Trading Down 1.2 %

Shares of TMO stock opened at $533.00 on Thursday. The business’s fifty day moving average price is $549.14 and its 200 day moving average price is $566.23. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The firm has a market capitalization of $201.08 billion, a PE ratio of 32.24, a P/E/G ratio of 2.99 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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%. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

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

Thermo Fisher Scientific Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Friday, March 14th. This is an increase 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 dividend payout ratio is 10.41%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Wells Fargo & Company lifted their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Citigroup lifted their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. UBS Group boosted their price objective on Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Sanford C. Bernstein raised 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. Four investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $656.86.

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.