Magnus Financial Group LLC Boosts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Magnus Financial Group LLC grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 67.9% in the fourth quarter, HoldingsChannel reports. The fund owned 5,703 shares of the medical research company’s stock after acquiring an additional 2,306 shares during the quarter. Magnus Financial Group LLC’s holdings in Thermo Fisher Scientific were worth $2,967,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. Legacy Investment Solutions LLC acquired a new position in Thermo Fisher Scientific in the 3rd quarter valued at $26,000. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $27,000. Missouri Trust & Investment Co acquired a new position in Thermo Fisher Scientific during the fourth quarter worth $29,000. Decker Retirement Planning Inc. acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter worth $43,000. Finally, HWG Holdings LP acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $50,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 0.0 %

Shares of TMO stock opened at $572.99 on Wednesday. The company has a market capitalization of $219.17 billion, a price-to-earnings ratio of 35.96, a PEG ratio of 3.71 and a beta of 0.76. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average price of $530.86 and a 200 day moving average price of $568.96. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88.

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

Thermo Fisher Scientific Announces Dividend

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

Thermo Fisher Scientific declared that its Board of Directors has approved a share buyback plan on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of recent analyst reports. Morgan Stanley cut their price target on shares of Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a report on Monday, January 13th. 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 report on Thursday, October 24th. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Wells Fargo & Company dropped their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Evercore ISI reduced their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $648.95.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the sale, 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 legal filing with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,150 shares of company stock valued at $25,954,465. Insiders own 0.34% of the company’s stock.

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.