Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by Blue Trust Inc.

Blue Trust Inc. boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 39.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,386 shares of the medical research company’s stock after buying an additional 677 shares during the period. Blue Trust Inc.’s holdings in Thermo Fisher Scientific were worth $1,241,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Legacy Investment Solutions LLC purchased a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth about $26,000. Peterson Financial Group Inc. purchased a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth about $27,000. Missouri Trust & Investment Co purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter worth about $29,000. Endeavor Private Wealth Inc. purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter worth about $30,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $50,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $584.38 on Wednesday. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The company has a market cap of $223.52 billion, a P/E ratio of 36.64, a PEG ratio of 3.82 and a beta of 0.76. The stock has a fifty day moving average price of $535.24 and a 200 day moving average price of $570.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific Announces Dividend

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

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

Analyst Upgrades and Downgrades

TMO has been the topic of several analyst reports. Evercore ISI dropped their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Bank of America dropped their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Stifel Nicolaus dropped their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, Redburn Atlantic began coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price objective 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $648.95.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the 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 completion of the transaction, the chief executive officer now owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 34,850 shares of company stock valued at $19,123,197. 0.34% of the stock is currently owned by corporate insiders.

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.