Perkins Coie Trust Co Has $65,000 Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Perkins Coie Trust Co lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 19.4% in the fourth quarter, HoldingsChannel.com reports. The fund owned 125 shares of the medical research company’s stock after selling 30 shares during the period. Perkins Coie Trust Co’s holdings in Thermo Fisher Scientific were worth $65,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in TMO. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at $26,000. Peterson Financial Group Inc. bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth $27,000. Decker Retirement Planning Inc. acquired a new stake in Thermo Fisher Scientific in the fourth quarter valued at about $43,000. HWG Holdings LP acquired a new position in Thermo Fisher Scientific during the second quarter worth about $50,000. Finally, RPg Family Wealth Advisory LLC bought a new position in shares of Thermo Fisher Scientific in the third quarter worth about $50,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Trading Down 0.4 %

NYSE TMO opened at $559.72 on Friday. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. 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 business has a 50 day simple moving average of $529.96 and a 200 day simple moving average of $568.09. The stock has a market capitalization of $214.09 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.59 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.69 EPS. Research analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has approved a share repurchase 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 repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were paid a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.78%.

Insiders Place Their Bets

In related news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the transaction, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,150 shares of company stock worth $25,954,465. Corporate insiders own 0.34% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on TMO shares. Stephens initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Royal Bank of Canada dropped their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price for the company in a report on Friday, January 10th. Barclays reduced their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus dropped their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.

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.