Elk River Wealth Management LLC Trims Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Elk River Wealth Management LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,859 shares of the medical research company’s stock after selling 38 shares during the period. Elk River Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $5,133,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific during the third quarter valued at approximately $26,000. Peterson Financial Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the third quarter valued at approximately $27,000. Barrett & Company Inc. bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $28,000. Missouri Trust & Investment Co bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $29,000. Finally, Endeavor Private Wealth Inc. bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at approximately $30,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup lifted their price target on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a research report on Friday, January 31st. Stifel Nicolaus dropped their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Raymond James reissued an “outperform” rating and issued a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Wells Fargo & Company boosted their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Finally, Evercore ISI dropped 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. Four 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 has a consensus rating of “Moderate Buy” and a consensus target price of $658.00.

Thermo Fisher Scientific Stock Up 1.6 %

Thermo Fisher Scientific stock opened at $531.41 on Thursday. The stock has a market cap of $203.26 billion, a PE ratio of 32.15, a price-to-earnings-growth ratio of 2.91 and a beta of 0.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The stock has a fifty day moving average of $548.10 and a 200 day moving average of $568.36.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 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, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

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 given a $0.43 dividend. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 dividend on an annualized basis and a yield of 0.32%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.44%.

Thermo Fisher Scientific declared that its board has authorized a share repurchase program on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Tuesday, February 4th. The stock was 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 $9,582,009.17. This represents a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction dated 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 transaction, 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 20,125 shares of company stock worth $11,231,699 over the last quarter. 0.34% of the stock is currently owned by corporate insiders.

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.