Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,602 shares of the medical research company’s stock after selling 562 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Thermo Fisher Scientific were worth $1,874,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at $26,000. Peterson Financial Group Inc. bought a new position in shares of Thermo Fisher Scientific during the third quarter worth about $27,000. Missouri Trust & Investment Co bought a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $29,000. Endeavor Private Wealth Inc. acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at about $30,000. Finally, Decker Retirement Planning Inc. bought a new stake in Thermo Fisher Scientific in the fourth quarter valued at $43,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on TMO shares. Stephens began coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target for the company. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. 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 report on Friday, December 13th. Evercore ISI lowered 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. Finally, Wells Fargo & Company dropped their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $648.95.

Thermo Fisher Scientific Trading Up 0.1 %

TMO stock opened at $584.38 on Wednesday. The business has a fifty day moving average of $536.74 and a 200-day moving average of $570.35. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. 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. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88.

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 issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Thermo Fisher Scientific announced that its board has approved a stock repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In related 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 transaction of $5,302,600.00. Following the sale, the chief executive officer now owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have sold 34,850 shares of company stock worth $19,123,197 in the last three months. Insiders own 0.34% of the company’s stock.

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.