Confluence Wealth Services Inc. Has $1.52 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Confluence Wealth Services Inc. boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,636 shares of the medical research company’s stock after purchasing an additional 23 shares during the period. Confluence Wealth Services Inc.’s holdings in Thermo Fisher Scientific were worth $1,515,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. State Street Corp grew its stake in Thermo Fisher Scientific by 0.8% during the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after purchasing an additional 124,996 shares during the period. FMR LLC grew its holdings in Thermo Fisher Scientific by 19.7% in the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after purchasing an additional 1,294,453 shares during the period. Geode Capital Management LLC increased its position in Thermo Fisher Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after buying an additional 127,564 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Thermo Fisher Scientific by 5.7% during 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 purchasing an additional 262,062 shares during the period. Finally, Fisher Asset Management LLC raised its holdings 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 buying an additional 65,586 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TMO shares. TD Cowen raised their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Citigroup increased their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Bank of America decreased their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Finally, Robert W. Baird decreased their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $658.00.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the completion of the sale, the chief executive officer now owns 14,608 shares of the company’s stock, valued at $8,076,178.88. The trade was a 38.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Trading Down 2.2 %

Shares of Thermo Fisher Scientific stock opened at $580.63 on Wednesday. The company’s 50-day moving average price is $544.31 and its 200-day moving average price is $571.88. The company has a market cap of $222.09 billion, a price-to-earnings ratio of 35.13, a PEG ratio of 4.06 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 23.29 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given 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 dividend payout ratio (DPR) is 9.44%.

Thermo Fisher Scientific declared that its Board of Directors has approved a share repurchase plan 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 plans are typically a sign that the company’s board of directors believes its shares are 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.