Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Cornerstone Wealth Group LLC

Cornerstone Wealth Group LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,089 shares of the medical research company’s stock after acquiring an additional 44 shares during the period. Cornerstone Wealth Group LLC’s holdings in Thermo Fisher Scientific were worth $567,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of TMO. Union Bancaire Privee UBP SA purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $71,877,000. Capital Asset Advisory Services LLC lifted its stake in shares of Thermo Fisher Scientific by 2.1% in the 4th quarter. Capital Asset Advisory Services LLC now owns 6,075 shares of the medical research company’s stock valued at $3,232,000 after purchasing an additional 127 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Thermo Fisher Scientific by 39.6% during the 4th quarter. Blue Trust Inc. now owns 2,386 shares of the medical research company’s stock worth $1,241,000 after purchasing an additional 677 shares during the period. Maj Invest Holding A S acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth about $83,000. Finally, Novare Capital Management LLC lifted its position in Thermo Fisher Scientific by 2.1% in the fourth quarter. Novare Capital Management LLC now owns 23,515 shares of the medical research company’s stock valued at $12,233,000 after buying an additional 490 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $583.43 on Tuesday. The stock’s 50-day simple moving average is $533.60 and its 200-day simple moving average is $569.81. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The firm has a market capitalization of $223.16 billion, a PE ratio of 36.58, a price-to-earnings-growth ratio of 3.82 and a beta of 0.76. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88.

Thermo Fisher Scientific declared that its board has approved a stock repurchase program 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 shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

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

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $558.12, for a total transaction of $5,581,200.00. Following the sale, the chief executive officer now owns 33,608 shares in the company, valued at approximately $18,757,296.96. The trade was a 22.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 34,850 shares of company stock worth $19,123,197 in the last ninety days. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TMO. Wells Fargo & Company decreased their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Royal Bank of Canada lowered their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective on the stock in a report on Friday, January 10th. Stephens started coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 target price for the company. Finally, StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price 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.