Peloton Wealth Strategists Trims Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Peloton Wealth Strategists cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.8% in the fourth quarter, HoldingsChannel.com reports. The firm owned 12,896 shares of the medical research company’s stock after selling 100 shares during the quarter. Thermo Fisher Scientific comprises about 2.7% of Peloton Wealth Strategists’ investment portfolio, making the stock its 12th biggest holding. Peloton Wealth Strategists’ holdings in Thermo Fisher Scientific were worth $6,709,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following 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 available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders have sold 20,125 shares of company stock valued at $11,231,699 in the last 90 days. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of research reports. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Bank of America dropped their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Wells Fargo & Company upped their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Raymond James restated an “outperform” rating and set a $667.00 target price (up previously from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. 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 for the company in a research report on Friday, January 10th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $656.86.

Thermo Fisher Scientific Trading Down 1.9 %

Shares of TMO opened at $523.40 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The company has a market cap of $197.46 billion, a P/E ratio of 31.66, a P/E/G ratio of 2.99 and a beta of 0.77. 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 company’s fifty day simple moving average is $549.27 and its 200-day simple moving average is $565.93.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, topping 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%. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

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

Thermo Fisher Scientific Increases Dividend

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

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.