Geneva Capital Management LLC Has $2.40 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Geneva Capital Management LLC trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,616 shares of the medical research company’s stock after selling 332 shares during the period. Geneva Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $2,401,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at $26,000. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at $27,000. Barrett & Company Inc. acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $28,000. FPC Investment Advisory Inc. acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $28,000. Finally, Missouri Trust & Investment Co acquired a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at $29,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $527.43 on Friday. The firm has a market cap of $198.98 billion, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 2.99 and a beta of 0.77. The stock’s 50-day moving average is $548.99 and its 200-day moving average is $563.21. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.66 and a quick ratio of 1.29.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a $0.43 dividend. 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%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s payout ratio is currently 10.41%.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

TMO has been the subject of several research reports. UBS Group lifted their target price on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research note on Friday, January 31st. Morgan Stanley raised 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. Wells Fargo & Company raised their price target on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Bank of America reduced their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Finally, Royal Bank of Canada set a $693.00 price target on Thermo Fisher Scientific in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price of $653.23.

Insider Activity at Thermo Fisher Scientific

In other news, CFO Stephen Williamson sold 9,825 shares of the company’s stock in a transaction that occurred on Tuesday, February 4th. The stock was 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 of the company’s stock, valued at approximately $15,984,264.64. This represents a 26.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the completion of the sale, the chief executive officer now owns 115,174 shares of the company’s stock, valued at approximately $59,506,950.58. This trade represents a 7.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,125 shares of company stock valued at $11,095,799. 0.34% of the stock is owned by insiders.

About Thermo Fisher Scientific

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.