Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Harrington Investments INC

Harrington Investments INC lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 10,049 shares of the medical research company’s stock after selling 112 shares during the period. Thermo Fisher Scientific makes up approximately 2.9% of Harrington Investments INC’s portfolio, making the stock its 9th biggest holding. Harrington Investments INC’s holdings in Thermo Fisher Scientific were worth $5,228,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TMO. Legacy Investment Solutions LLC purchased a new stake in Thermo Fisher Scientific in the 3rd quarter valued at $26,000. Peterson Financial Group Inc. purchased a new stake in shares of Thermo Fisher Scientific in the third quarter valued at about $27,000. Barrett & Company Inc. purchased a new position in Thermo Fisher Scientific during the fourth quarter worth about $28,000. FPC Investment Advisory Inc. bought a new stake in Thermo Fisher Scientific in the 4th quarter worth about $28,000. Finally, Missouri Trust & Investment Co bought a new position in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $29,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $523.44 on Friday. The firm’s 50 day simple moving average is $548.54 and its 200 day simple moving average is $559.53. The firm has a market capitalization of $197.47 billion, a PE ratio of 31.67, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data 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%. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

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

Thermo Fisher Scientific Increases Dividend

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

Insiders Place Their Bets

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 3,775 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $532.52, for a total value of $2,010,263.00. Following the completion of the sale, the senior vice president now owns 10,816 shares of the company’s stock, valued at $5,759,736.32. This represents a 25.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,900 shares of company stock valued at $13,106,062 in the last quarter. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Citigroup decreased their price target on Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating for the company in a research report on Tuesday, March 4th. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price on the stock in a research note on Friday, January 10th. Royal Bank of Canada set a $693.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 31st. Wells Fargo & Company boosted their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Finally, Bank of America decreased their price target on shares of 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. Four research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $653.23.

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.