Stonegate Investment Group LLC Acquires 18 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Stonegate Investment Group LLC lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 6,788 shares of the medical research company’s stock after purchasing an additional 18 shares during the period. Stonegate Investment Group LLC’s holdings in Thermo Fisher Scientific were worth $3,531,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific in the third quarter worth $26,000. Peterson Financial Group Inc. acquired a new position in Thermo Fisher Scientific during the third quarter worth $27,000. Missouri Trust & Investment Co acquired a new position in Thermo Fisher Scientific during the fourth quarter worth $29,000. Endeavor Private Wealth Inc. acquired a new position in Thermo Fisher Scientific during the fourth quarter worth $30,000. Finally, RPg Family Wealth Advisory LLC acquired a new position in Thermo Fisher Scientific during the third quarter worth $50,000. Institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

TMO has been the topic of a number of recent analyst reports. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price on the stock in a report on Friday, January 10th. Morgan Stanley decreased their price target on shares of Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Stephens started coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target on the stock. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Barclays decreased their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Four equities research 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’s stock. According to MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $648.95.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 5,850 shares of Thermo Fisher Scientific stock in a transaction on Friday, November 1st. The stock was sold at an average price of $557.89, for a total transaction of $3,263,656.50. Following the sale, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,611,804.88. The trade was a 4.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 34,850 shares of company stock valued at $19,123,197 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $583.43 on Tuesday. The company has a market capitalization of $223.16 billion, a PE ratio of 36.58, a P/E/G ratio of 3.82 and a beta of 0.76. The company has a 50 day simple moving average of $533.60 and a two-hundred day simple moving average of $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. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were given 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 of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Thermo Fisher Scientific announced that its board has approved a share buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

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.