Spire Wealth Management trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 24.7% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,014 shares of the medical research company’s stock after selling 660 shares during the quarter. Spire Wealth Management’s holdings in Thermo Fisher Scientific were worth $1,019,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Halpern Financial Inc. increased its holdings in shares of Thermo Fisher Scientific by 307.7% in the 3rd quarter. Halpern Financial Inc. now owns 53 shares of the medical research company’s stock valued at $27,000 after acquiring an additional 40 shares during the last quarter. Coppell Advisory Solutions LLC bought a new position in Thermo Fisher Scientific during the 2nd quarter worth $33,000. Live Oak Investment Partners bought a new position in Thermo Fisher Scientific during the 4th quarter worth $36,000. Tyler Stone Wealth Management bought a new position in Thermo Fisher Scientific during the 2nd quarter worth $37,000. Finally, Indiana Trust & Investment Management CO bought a new position in Thermo Fisher Scientific during the 3rd quarter worth $38,000. 87.06% of the stock is currently owned by institutional investors.
Thermo Fisher Scientific Stock Up 1.6 %
NYSE:TMO opened at $560.43 on Wednesday. The company has a current ratio of 1.75, a quick ratio of 1.39 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a 1-year low of $415.60 and a 1-year high of $593.17. The business’s fifty day moving average price is $529.94 and its 200 day moving average price is $514.00. The firm has a market capitalization of $216.53 billion, a price-to-earnings ratio of 36.27, a PEG ratio of 2.31 and a beta of 0.80.
Thermo Fisher Scientific Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 16th. Shareholders of record on Friday, December 15th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend was Thursday, December 14th. Thermo Fisher Scientific’s payout ratio is currently 9.06%.
Thermo Fisher Scientific declared that its Board of Directors has approved a share buyback plan on Tuesday, November 14th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy up to 2.2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.
Analysts Set New Price Targets
A number of brokerages recently commented on TMO. KeyCorp downgraded Thermo Fisher Scientific from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 26th. Raymond James increased their price target on Thermo Fisher Scientific from $515.00 to $605.00 and gave the stock an “outperform” rating in a research note on Thursday, February 1st. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Thursday, October 26th. Stifel Nicolaus decreased their price target on Thermo Fisher Scientific from $660.00 to $530.00 and set a “buy” rating for the company in a research note on Thursday, October 26th. Finally, TheStreet raised Thermo Fisher Scientific from a “c+” rating to a “b-” rating in a research note on Friday, December 22nd. Four equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $596.00.
Thermo Fisher Scientific Profile
Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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