Old North State Wealth Management LLC Acquires 65 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Old North State Wealth Management LLC grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.0% during the fourth quarter, Holdings Channel reports. The firm owned 528 shares of the medical research company’s stock after purchasing an additional 65 shares during the period. Old North State Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $275,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TMO. Legacy Investment Solutions LLC bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth about $26,000. Peterson Financial Group Inc. bought a new stake in Thermo Fisher Scientific during the third quarter worth approximately $27,000. Missouri Trust & Investment Co bought a new position in shares of Thermo Fisher Scientific in the fourth quarter valued at approximately $29,000. Endeavor Private Wealth Inc. bought a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth $30,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Thermo Fisher Scientific in the 3rd quarter worth $50,000. 89.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on TMO shares. Wells Fargo & Company raised their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Morgan Stanley lifted their price target on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Citigroup raised their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a research note on Friday, January 31st. TD Cowen increased their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Finally, Stifel Nicolaus dropped their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $658.00.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the completion of the sale, the chief executive officer now owns 14,608 shares in the company, valued at approximately $8,076,178.88. The trade was a 38.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $580.63 on Wednesday. The stock’s fifty day moving average is $542.95 and its 200-day moving average is $571.55. 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 52 week low of $493.30 and a 52 week high of $627.88. The stock has a market capitalization of $222.09 billion, a PE ratio of 35.13, a PEG ratio of 4.06 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, topping analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 23.29 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.44%.

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