Summit Financial LLC Decreases Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Summit Financial LLC lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.8% in the fourth quarter, Holdings Channel reports. The fund owned 5,161 shares of the medical research company’s stock after selling 258 shares during the quarter. Summit Financial LLC’s holdings in Thermo Fisher Scientific were worth $2,687,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Legacy Investment Solutions LLC purchased a new stake in Thermo Fisher Scientific during the 3rd quarter worth $26,000. Barrett & Company Inc. purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth about $28,000. FPC Investment Advisory Inc. acquired a new position in shares of Thermo Fisher Scientific in the fourth quarter worth about $28,000. Pillar Financial Advisors LLC acquired a new stake in Thermo Fisher Scientific during the 4th quarter valued at approximately $29,000. Finally, Missouri Trust & Investment Co acquired a new position in shares of Thermo Fisher Scientific in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

TMO has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Citigroup cut their target price on shares of Thermo Fisher Scientific from $650.00 to $570.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 4th. Royal Bank of Canada set a $693.00 price objective on Thermo Fisher Scientific in a report on Friday, January 31st. Wells Fargo & Company raised their price objective on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, January 31st. Finally, Sanford C. Bernstein upgraded shares of 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 equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $653.23.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 16,363 shares of the company’s stock, valued at approximately $9,582,009.17. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the firm’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 $5,753,421.75. Following the completion of the sale, the chief financial officer now directly owns 27,296 shares of the company’s stock, valued at approximately $15,984,264.64. This trade represents a 26.47 % decrease in their position. 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 over the last three months. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.4 %

Shares of Thermo Fisher Scientific stock opened at $498.05 on Tuesday. The business has a fifty day simple moving average of $540.37 and a 200-day simple moving average of $551.02. Thermo Fisher Scientific Inc. has a fifty-two week low of $484.27 and a fifty-two week high of $627.88. The firm has a market cap of $187.89 billion, a price-to-earnings ratio of 30.13, a price-to-earnings-growth ratio of 2.99 and a beta of 0.79. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a $0.43 dividend. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.35%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. Thermo Fisher Scientific’s payout ratio is presently 10.41%.

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.