Forvis Mazars Wealth Advisors LLC Sells 237 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Forvis Mazars Wealth Advisors LLC cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,172 shares of the medical research company’s stock after selling 237 shares during the period. Forvis Mazars Wealth Advisors LLC’s holdings in Thermo Fisher Scientific were worth $3,731,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in TMO. Legacy Investment Solutions LLC purchased a new stake in Thermo Fisher Scientific in the third quarter worth about $26,000. Peterson Financial Group Inc. purchased a new stake in Thermo Fisher Scientific in the third quarter worth about $27,000. Barrett & Company Inc. purchased a new stake in Thermo Fisher Scientific in the fourth quarter worth about $28,000. FPC Investment Advisory Inc. purchased a new stake in Thermo Fisher Scientific in the fourth quarter worth about $28,000. Finally, Missouri Trust & Investment Co purchased a new stake in Thermo Fisher Scientific in the fourth quarter worth about $29,000. 89.23% of the stock is currently owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the transaction, the executive vice president now owns 16,363 shares in the company, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stephen Williamson sold 9,825 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 27,296 shares in the company, valued at $15,984,264.64. This trade represents a 26.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,125 shares of company stock valued at $11,231,699 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Raymond James reissued an “outperform” rating and set a $667.00 price target (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Morgan Stanley increased their price target on shares of Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Bank of America decreased their price target on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research report on Friday, December 13th. Wells Fargo & Company increased their price target on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Finally, StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $656.86.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $532.55 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The company’s 50 day moving average is $548.47 and its 200 day moving average is $567.46. 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 market cap of $203.70 billion, a PE ratio of 32.22, a price-to-earnings-growth ratio of 2.99 and a beta of 0.77.

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

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

Thermo Fisher Scientific Increases Dividend

The company 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 dividend of $0.43 per share. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, March 14th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.32%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.41%.

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.