Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Evergreen Private Wealth LLC

Evergreen Private Wealth LLC lifted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% in the fourth quarter, HoldingsChannel reports. The fund owned 10,581 shares of the medical research company’s stock after purchasing an additional 69 shares during the quarter. Thermo Fisher Scientific makes up 2.6% of Evergreen Private Wealth LLC’s holdings, making the stock its 13th largest holding. Evergreen Private Wealth LLC’s holdings in Thermo Fisher Scientific were worth $5,504,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. State Street Corp raised its holdings in shares of Thermo Fisher Scientific by 0.8% in the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after purchasing an additional 124,996 shares in the last quarter. FMR LLC raised its holdings in shares of Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after purchasing an additional 1,294,453 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Thermo Fisher Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after purchasing an additional 127,564 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Thermo Fisher Scientific by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after purchasing an additional 262,062 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Thermo Fisher Scientific by 15.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,810,128 shares of the medical research company’s stock worth $1,461,913,000 after purchasing an additional 366,191 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently issued reports on TMO. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Morgan Stanley boosted their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Royal Bank of Canada set a $693.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 31st. Raymond James restated an “outperform” rating and set a $667.00 price target (up previously from $650.00) on shares of Thermo Fisher Scientific in a report on Monday, February 3rd. Finally, Bank of America cut their price target on shares of 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 analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $653.23.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $527.43 on Friday. 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 has a fifty day simple moving average of $548.99 and a 200 day simple moving average of $563.21. The company has a market cap of $198.98 billion, a P/E ratio of 31.91, a P/E/G ratio of 2.99 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share (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%. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be paid a $0.43 dividend. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio is currently 10.41%.

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

Insider Activity

In other news, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $5,753,421.75. Following the completion of the transaction, the chief financial officer now owns 27,296 shares in the company, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the completion of the transaction, the chief executive officer now owns 115,174 shares of the company’s stock, valued at approximately $59,506,950.58. This represents a 7.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,125 shares of company stock worth $11,095,799. 0.34% of the stock is currently owned by corporate insiders.

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.