Peloton Wealth Strategists Sells 100 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Peloton Wealth Strategists lessened its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,896 shares of the medical research company’s stock after selling 100 shares during the period. Thermo Fisher Scientific accounts for 2.7% of Peloton Wealth Strategists’ investment portfolio, making the stock its 12th biggest position. Peloton Wealth Strategists’ holdings in Thermo Fisher Scientific were worth $6,709,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Alphinity Investment Management Pty Ltd grew its holdings in Thermo Fisher Scientific by 2.1% in the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,276,553 shares of the medical research company’s stock worth $664,101,000 after acquiring an additional 26,197 shares during the last quarter. Heritage Oak Wealth Advisors LLC bought a new stake in Thermo Fisher Scientific in the 4th quarter worth $254,000. Otter Creek Advisors LLC bought a new stake in Thermo Fisher Scientific in the 4th quarter worth $4,631,000. Proficio Capital Partners LLC grew its holdings in Thermo Fisher Scientific by 68,617.0% in the 4th quarter. Proficio Capital Partners LLC now owns 762,759 shares of the medical research company’s stock worth $396,810,000 after acquiring an additional 761,649 shares during the last quarter. Finally, Kovack Advisors Inc. grew its holdings in Thermo Fisher Scientific by 6.8% in the 4th quarter. Kovack Advisors Inc. now owns 1,444 shares of the medical research company’s stock worth $751,000 after acquiring an additional 92 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 1.9 %

Shares of Thermo Fisher Scientific stock opened at $523.40 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. The stock has a market capitalization of $197.46 billion, a PE ratio of 31.66, a price-to-earnings-growth ratio of 2.99 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The company has a 50-day simple moving average of $549.27 and a two-hundred day simple moving average of $565.93.

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

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $0.43 dividend. The ex-dividend date of this dividend is Friday, March 14th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.33%. Thermo Fisher Scientific’s payout ratio is currently 10.41%.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TMO shares. Bank of America dropped their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Raymond James reaffirmed an “outperform” rating and issued a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Sanford C. Bernstein raised shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price for the company in a research report on Friday, January 10th. Morgan Stanley raised their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, UBS Group raised their target price on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $656.86.

Insider Transactions at Thermo Fisher Scientific

In related news, CFO Stephen Williamson sold 9,825 shares of the business’s 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 $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the business’s 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 of the company’s stock, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock worth $11,231,699 over the last three months. 0.34% of the stock is currently owned by company insiders.

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.