Matrix Asset Advisors Inc. NY Has $10.12 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Matrix Asset Advisors Inc. NY reduced its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 19,456 shares of the medical research company’s stock after selling 297 shares during the quarter. Matrix Asset Advisors Inc. NY’s holdings in Thermo Fisher Scientific were worth $10,122,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in TMO. Curbstone Financial Management Corp bought a new position in Thermo Fisher Scientific in the 4th quarter worth approximately $685,000. Revolve Wealth Partners LLC increased its position in Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock worth $255,000 after acquiring an additional 20 shares during the period. YHB Investment Advisors Inc. boosted its holdings in Thermo Fisher Scientific by 0.4% in the 4th quarter. YHB Investment Advisors Inc. now owns 46,450 shares of the medical research company’s stock valued at $24,165,000 after purchasing an additional 200 shares during the period. Nilsine Partners LLC grew its position in Thermo Fisher Scientific by 4.6% in the 4th quarter. Nilsine Partners LLC now owns 10,665 shares of the medical research company’s stock worth $5,548,000 after purchasing an additional 473 shares during the last quarter. Finally, Foundations Investment Advisors LLC raised its position in shares of Thermo Fisher Scientific by 32.1% during the fourth quarter. Foundations Investment Advisors LLC now owns 1,513 shares of the medical research company’s stock valued at $787,000 after buying an additional 368 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Up 1.5 %

NYSE:TMO opened at $583.43 on Tuesday. The stock’s fifty day moving average price is $533.60 and its two-hundred day moving average price is $569.81. The company has a market cap of $223.16 billion, a price-to-earnings ratio of 36.58, a P/E/G ratio of 3.82 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. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific declared that its board has initiated a stock 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 leadership believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

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

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 111,192 shares in the company, valued at $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last quarter, insiders have sold 34,850 shares of company stock valued at $19,123,197. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TMO. Stephens started coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective for the company. Sanford C. Bernstein raised 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 report on Friday, January 10th. TD Cowen upped their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Robert W. Baird decreased their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Stifel Nicolaus dropped their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $648.95.

Thermo Fisher Scientific 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.