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

Bank of New York Mellon Corp decreased its stake in shares of 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 institutional investor owned 2,557,197 shares of the medical research company’s stock after selling 71,192 shares during the period. Bank of New York Mellon Corp’s holdings in Thermo Fisher Scientific were worth $1,330,331,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Geode Capital Management LLC grew its holdings in shares of Thermo Fisher Scientific by 1.7% during 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 acquiring an additional 127,564 shares during the period. Coldstream Capital Management Inc. raised its holdings in Thermo Fisher Scientific by 11.4% in the third quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock worth $5,972,000 after purchasing an additional 995 shares in the last quarter. Greenwood Gearhart Inc. boosted its holdings in shares of Thermo Fisher Scientific by 9.8% during the 3rd quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock valued at $12,730,000 after buying an additional 1,837 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Thermo Fisher Scientific by 23.6% in the 4th quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock worth $28,868,000 after buying an additional 10,606 shares during the period. Finally, S.E.E.D. Planning Group LLC lifted its position in Thermo Fisher Scientific by 6.2% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock valued at $5,528,000 after acquiring an additional 618 shares during the period. 89.23% of the stock is owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the sale, the chief executive officer now owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total value of $175,677.00. Following the transaction, the executive vice president now directly owns 16,363 shares in the company, valued at approximately $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock worth $11,231,699 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO stock opened at $535.55 on Tuesday. The company has a market cap of $204.85 billion, a P/E ratio of 32.40, a price-to-earnings-growth ratio of 2.99 and a beta of 0.77. 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 Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The stock’s fifty day moving average price is $548.58 and its 200-day moving average price is $566.86.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (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%. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

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

Thermo Fisher Scientific Increases Dividend

The firm also recently declared 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 represents a $1.72 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Friday, March 14th. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.41%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Citigroup upped their price objective on shares of Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock a “neutral” rating in a report on Friday, January 31st. Royal Bank of Canada set a $693.00 price objective on Thermo Fisher Scientific in a research report on Friday, January 31st. Scotiabank boosted their target price on Thermo Fisher Scientific from $605.00 to $650.00 and gave the stock a “sector perform” rating in a report on Monday, February 3rd. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Finally, UBS Group upped their price target on shares of Thermo Fisher Scientific from $700.00 to $715.00 and gave the stock a “buy” rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $656.86.

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.