Noble Wealth Management PBC Buys New Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Noble Wealth Management PBC acquired a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 67 shares of the medical research company’s stock, valued at approximately $35,000.

Several other institutional investors and hedge funds have also bought and sold shares of TMO. Legacy Investment Solutions LLC purchased a new stake in Thermo Fisher Scientific in the 3rd quarter worth approximately $26,000. Peterson Financial Group Inc. purchased a new stake in Thermo Fisher Scientific in the 3rd quarter worth approximately $27,000. Barrett & Company Inc. purchased a new stake in Thermo Fisher Scientific in the 4th quarter worth approximately $28,000. FPC Investment Advisory Inc. purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $28,000. Finally, Missouri Trust & Investment Co purchased a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on TMO shares. Royal Bank of Canada set a $693.00 target price on Thermo Fisher Scientific in a research note on Friday, January 31st. Wells Fargo & Company raised their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Morgan Stanley raised their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Scotiabank raised their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $656.86.

Thermo Fisher Scientific Stock Up 1.1 %

Thermo Fisher Scientific stock opened at $528.99 on Monday. The firm has a market cap of $199.57 billion, a price-to-earnings ratio of 32.00, a PEG ratio of 2.99 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. The stock has a fifty day simple moving average of $549.37 and a two-hundred day simple moving average of $564.91.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal 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 paid a $0.43 dividend. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.33%. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.41%.

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

Insider Transactions at Thermo Fisher Scientific

In related news, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.