Portside Wealth Group LLC Sells 116 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Portside Wealth Group LLC reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,379 shares of the medical research company’s stock after selling 116 shares during the period. Thermo Fisher Scientific makes up 1.0% of Portside Wealth Group LLC’s portfolio, making the stock its 18th biggest position. Portside Wealth Group LLC’s holdings in Thermo Fisher Scientific were worth $5,920,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently modified their holdings of the stock. Geode Capital Management LLC raised its stake in Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after buying an additional 127,564 shares during the last quarter. Coldstream Capital Management Inc. lifted its holdings in Thermo Fisher Scientific by 11.4% in the third quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock valued at $5,972,000 after acquiring an additional 995 shares during the period. Greenwood Gearhart Inc. grew its stake in shares of Thermo Fisher Scientific by 9.8% during the 3rd quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock valued at $12,730,000 after purchasing an additional 1,837 shares during the period. Nordea Investment Management AB lifted its stake in shares of Thermo Fisher Scientific by 23.6% in the 4th quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock worth $28,868,000 after purchasing an additional 10,606 shares during the period. Finally, Czech National Bank boosted its holdings in shares of Thermo Fisher Scientific by 6.6% in the fourth quarter. Czech National Bank now owns 82,934 shares of the medical research company’s stock worth $43,145,000 after buying an additional 5,118 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction 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 completion of the transaction, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the sale, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Trading Down 0.4 %

Shares of TMO stock opened at $559.72 on Friday. The company has a market cap of $214.09 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.59 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The stock’s 50 day simple moving average is $529.96 and its two-hundred day simple moving average is $568.09. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter in the previous year, the business posted $5.69 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. Research analysts predict that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has approved a stock buyback plan 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 buy up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were paid 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 yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TMO. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a research note on Friday, January 10th. Stephens assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price on the stock. Robert W. Baird decreased their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. TD Cowen increased their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Finally, Redburn Atlantic started coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $648.95.

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.