GSB Wealth Management LLC Sells 18 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

GSB Wealth Management LLC trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 1,019 shares of the medical research company’s stock after selling 18 shares during the period. GSB Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $530,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of TMO. Grimes & Company Inc. grew its position in shares of Thermo Fisher Scientific by 502.1% during the 4th quarter. Grimes & Company Inc. now owns 14,390 shares of the medical research company’s stock worth $7,486,000 after buying an additional 12,000 shares during the period. Linden Thomas Advisory Services LLC boosted its position in shares of Thermo Fisher Scientific by 13.6% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 4,746 shares of the medical research company’s stock worth $2,469,000 after purchasing an additional 569 shares in the last quarter. Cyndeo Wealth Partners LLC increased its position in shares of Thermo Fisher Scientific by 0.6% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 6,299 shares of the medical research company’s stock valued at $3,277,000 after buying an additional 37 shares in the last quarter. Fifth Third Bancorp lifted its holdings in shares of Thermo Fisher Scientific by 11.6% during the 4th quarter. Fifth Third Bancorp now owns 335,053 shares of the medical research company’s stock valued at $174,305,000 after purchasing an additional 34,917 shares in the last quarter. Finally, apricus wealth LLC lifted its stake in Thermo Fisher Scientific by 37.3% in the fourth quarter. apricus wealth LLC now owns 600 shares of the medical research company’s stock valued at $312,000 after buying an additional 163 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Bernstein Bank lifted their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Scotiabank assumed coverage on shares of Thermo Fisher Scientific in a report on Monday, December 23rd. They set a “sector perform” rating and a $605.00 target price for the company. Wells Fargo & Company reduced their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Finally, Bank of America dropped their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $648.95.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,850 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $557.89, for a total transaction of $3,263,656.50. Following the transaction, the chief executive officer now owns 121,192 shares in the company, valued at $67,611,804.88. This trade represents a 4.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 44,850 shares of company stock worth $24,666,097 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Trading Up 0.1 %

Shares of TMO stock opened at $575.21 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $493.30 and a 12-month high of $627.88. The firm has a 50 day moving average price of $533.60 and a two-hundred day moving average price of $569.32. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $220.02 billion, a PE ratio of 36.06, a price-to-earnings-growth ratio of 3.82 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the previous year, the company posted $5.69 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has approved a share buyback program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its shares are undervalued.

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.