Corundum Group Inc. Lowers Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Corundum Group Inc. reduced its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 21.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 549 shares of the medical research company’s stock after selling 148 shares during the quarter. Corundum Group Inc.’s holdings in Thermo Fisher Scientific were worth $286,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legacy Investment Solutions LLC purchased a new stake in Thermo Fisher Scientific in the third quarter valued at approximately $26,000. Peterson Financial Group Inc. bought a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth $27,000. Decker Retirement Planning Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at $43,000. HWG Holdings LP purchased a new position in Thermo Fisher Scientific in the second quarter worth $50,000. Finally, RPg Family Wealth Advisory LLC bought a new position in Thermo Fisher Scientific in the third quarter valued at $50,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of a number of research reports. Stephens assumed coverage on Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective for the company. Evercore ISI decreased their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Barclays cut their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Morgan Stanley reduced their price objective on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Price Performance

TMO stock opened at $559.72 on Monday. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The firm has a 50-day moving average of $529.96 and a 200 day moving average of $568.33. 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 company has a market cap of $214.09 billion, a P/E ratio of 35.09, a PEG ratio of 3.59 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $5.69 earnings per share. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

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

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

Thermo Fisher Scientific Company 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.