Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Baron Wealth Management LLC

Baron Wealth Management LLC cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,226 shares of the medical research company’s stock after selling 119 shares during the quarter. Baron Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $638,000 at the end of the most recent reporting period.

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

Analyst Ratings Changes

A number of brokerages have recently commented on TMO. Wells Fargo & Company dropped their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Evercore ISI decreased their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Bank of America cut their price target on 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. Bernstein Bank upped their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Stifel Nicolaus dropped their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $648.95.

Thermo Fisher Scientific Stock Down 2.9 %

Shares of NYSE TMO opened at $567.09 on Thursday. The company has a market capitalization of $216.91 billion, a P/E ratio of 35.55, a P/E/G ratio of 3.82 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The company has a 50 day simple moving average of $536.74 and a 200-day simple moving average of $570.35. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year 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 given a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Thermo Fisher Scientific announced that its board 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 buy up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 34,850 shares of company stock worth $19,123,197. 0.34% of the stock is currently owned by company insiders.

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.