Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Holdings Trimmed by Groesbeck Investment Management Corp NJ

Groesbeck Investment Management Corp NJ lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,992 shares of the medical research company’s stock after selling 350 shares during the quarter. Thermo Fisher Scientific accounts for 2.0% of Groesbeck Investment Management Corp NJ’s investment portfolio, making the stock its 13th biggest position. Groesbeck Investment Management Corp NJ’s holdings in Thermo Fisher Scientific were worth $1,557,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. International Assets Investment Management LLC boosted its stake in Thermo Fisher Scientific by 76,051.4% in the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock worth $876,152,000 after purchasing an additional 1,414,556 shares in the last quarter. FMR LLC raised its stake in shares of 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 acquiring an additional 1,294,453 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Thermo Fisher Scientific in the third quarter worth about $254,412,000. Lindsell Train Ltd bought a new position in shares of Thermo Fisher Scientific in the fourth quarter worth about $211,858,000. Finally, Franklin Resources Inc. raised 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. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TMO shares. Stifel Nicolaus decreased their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Barclays decreased their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Scotiabank increased their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a report on Monday. Finally, TD Cowen increased their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $658.00.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific 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 completion of the sale, the chief executive officer now directly owns 111,192 shares of the company’s stock, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Price Performance

TMO stock opened at $580.63 on Wednesday. The company has a fifty day moving average price of $542.95 and a 200-day moving average price of $571.55. The company has a market capitalization of $222.09 billion, a P/E ratio of 35.13, a PEG ratio of 4.06 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66.

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

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors 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 annualized dividend and a dividend yield of 0.27%. Thermo Fisher Scientific’s payout ratio is 9.44%.

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

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.