Harvest Fund Management Co. Ltd Sells 415 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Harvest Fund Management Co. Ltd cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 77.7% in the fourth quarter, HoldingsChannel reports. The fund owned 119 shares of the medical research company’s stock after selling 415 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Thermo Fisher Scientific were worth $62,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Stonegate Investment Group LLC raised its position in shares of Thermo Fisher Scientific by 0.3% during the 4th quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock valued at $3,531,000 after purchasing an additional 18 shares during the period. Semus Wealth Partners LLC raised its holdings in Thermo Fisher Scientific by 4.0% during the fourth quarter. Semus Wealth Partners LLC now owns 471 shares of the medical research company’s stock valued at $245,000 after acquiring an additional 18 shares during the period. Bangor Savings Bank lifted its position in shares of Thermo Fisher Scientific by 6.0% in the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after acquiring an additional 19 shares in the last quarter. Eagle Rock Investment Company LLC grew its position in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Eagle Rock Investment Company LLC now owns 7,463 shares of the medical research company’s stock worth $3,882,000 after purchasing an additional 19 shares in the last quarter. Finally, KRS Capital Management LLC raised its stake in Thermo Fisher Scientific by 1.5% during the 4th quarter. KRS Capital Management LLC now owns 1,317 shares of the medical research company’s stock valued at $685,000 after purchasing an additional 20 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total value of $175,677.00. Following the completion of the transaction, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stephen Williamson sold 9,825 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the sale, the chief financial officer now directly owns 27,296 shares in the company, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,900 shares of company stock worth $13,106,062. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TMO shares. Wells Fargo & Company increased their price objective on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Scotiabank lifted their price target on shares of Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a report on Monday, February 3rd. Morgan Stanley raised their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. UBS Group boosted their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research report on Friday, January 31st. Finally, Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective on the stock in a research note on Friday, January 10th. Four analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $653.23.

Thermo Fisher Scientific Stock Down 0.1 %

NYSE:TMO opened at $518.04 on Monday. The stock has a fifty day simple moving average of $546.15 and a 200-day simple moving average of $555.52. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. The company has a market cap of $195.44 billion, a price-to-earnings ratio of 31.34, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping 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%. Analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be given a dividend of $0.43 per share. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.41%.

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.