Bank of New York Mellon Corp Sells 71,192 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Bank of New York Mellon Corp lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,557,197 shares of the medical research company’s stock after selling 71,192 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.67% of Thermo Fisher Scientific worth $1,330,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Legacy Investment Solutions LLC bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth $26,000. Peterson Financial Group Inc. purchased a new stake in Thermo Fisher Scientific during the third quarter valued at about $27,000. Barrett & Company Inc. bought a new position in Thermo Fisher Scientific during the fourth quarter worth about $28,000. FPC Investment Advisory Inc. purchased a new position in shares of Thermo Fisher Scientific in the fourth quarter worth about $28,000. Finally, Missouri Trust & Investment Co purchased a new stake in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $29,000. 89.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TMO has been the subject of a number of recent research reports. Citigroup lifted their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the company a “neutral” rating in a research note on Friday, January 31st. Morgan Stanley boosted their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price for the company in a research note on Friday, January 10th. Scotiabank upped their price target on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research report on Monday, February 3rd. Finally, StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $656.86.

Thermo Fisher Scientific Stock Performance

Shares of NYSE TMO opened at $535.55 on Tuesday. The stock has a market cap of $204.85 billion, a price-to-earnings ratio of 32.40, a P/E/G ratio of 2.99 and a beta of 0.77. The stock’s 50-day moving average is $548.58 and its 200 day moving average is $566.86. The company has a current ratio of 1.66, a quick ratio of 1.29 and a debt-to-equity ratio of 0.59. 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 announced its quarterly earnings data 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%. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.43 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $1.72 annualized dividend and a dividend yield of 0.32%. 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 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 reacquire up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific 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 transaction of $5,753,421.75. Following the completion of the sale, the chief financial officer now owns 27,296 shares of the company’s stock, valued at $15,984,264.64. This represents a 26.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the transaction, the chief executive officer now owns 111,192 shares in the company, valued at $58,960,669.92. The trade was a 8.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock worth $11,231,699 in the last ninety days. 0.34% of the stock is owned by company insiders.

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.