Sax Wealth Advisors LLC Has $308,000 Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sax Wealth Advisors LLC reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 19.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 592 shares of the medical research company’s stock after selling 141 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Thermo Fisher Scientific were worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp grew its position in shares of Thermo Fisher Scientific by 0.8% in the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after purchasing an additional 124,996 shares during the last quarter. FMR LLC increased its position in Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after buying an additional 1,294,453 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after buying an additional 127,564 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after acquiring an additional 262,062 shares during the last quarter. Finally, Fisher Asset Management LLC increased its position in Thermo Fisher Scientific by 2.6% during the third quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock worth $1,630,896,000 after acquiring an additional 65,586 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on TMO. Bernstein Bank raised their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Scotiabank began coverage on Thermo Fisher Scientific in a report on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 price target for the company. Wells Fargo & Company decreased their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus reduced their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Stephens initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target on the stock. Four 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. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus price target of $648.95.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was 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 trade represents a 8.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, October 25th. The shares were 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 directly owns 16,663 shares in the company, 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 quarter, insiders have sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Trading Down 0.4 %

TMO opened at $559.72 on Friday. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The firm has a 50-day moving average price of $529.96 and a two-hundred day moving average price of $568.09. The stock has a market capitalization of $214.09 billion, a PE ratio of 35.09, a PEG ratio of 3.59 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.

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, topping the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. Thermo Fisher Scientific’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.69 EPS. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were given a dividend of $0.39 per share. 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 payout ratio is presently 9.78%.

Thermo Fisher Scientific announced that its board has authorized a stock buyback program on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

About Thermo Fisher Scientific

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.