Thermo Fisher Scientific Inc. $TMO Shares Sold by Salem Investment Counselors Inc.

Salem Investment Counselors Inc. reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,460 shares of the medical research company’s stock after selling 1,648 shares during the quarter. Salem Investment Counselors Inc.’s holdings in Thermo Fisher Scientific were worth $9,540,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TMO. Brighton Jones LLC grew its holdings in shares of Thermo Fisher Scientific by 28.9% during the 4th quarter. Brighton Jones LLC now owns 4,409 shares of the medical research company’s stock worth $2,293,000 after purchasing an additional 988 shares during the period. Revolve Wealth Partners LLC lifted its position in Thermo Fisher Scientific by 4.2% during the fourth quarter. Revolve Wealth Partners LLC now owns 491 shares of the medical research company’s stock valued at $255,000 after buying an additional 20 shares in the last quarter. Global Retirement Partners LLC acquired a new stake in shares of Thermo Fisher Scientific in the second quarter worth $1,274,000. Weitz Investment Management Inc. lifted its holdings in shares of Thermo Fisher Scientific by 19.3% during the 2nd quarter. Weitz Investment Management Inc. now owns 150,450 shares of the medical research company’s stock valued at $61,001,000 after acquiring an additional 24,300 shares in the last quarter. Finally, Maripau Wealth Management LLC acquired a new stake in Thermo Fisher Scientific in the 2nd quarter valued at $222,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of several analyst reports. Citigroup upped their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Saturday, February 28th. Evercore reiterated an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. Stifel Nicolaus raised their price target on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 9th. Finally, Robert W. Baird set a $653.00 price objective on shares of Thermo Fisher Scientific in a research report on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $478.29 on Tuesday. The stock has a market capitalization of $177.67 billion, a price-to-earnings ratio of 26.96, a PEG ratio of 2.74 and a beta of 0.96. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The company’s 50-day simple moving average is $540.67 and its 200-day simple moving average is $548.27. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.45 by $0.12. The firm had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.Thermo Fisher Scientific’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.10 earnings per share. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be issued a $0.47 dividend. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, March 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 10.60%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 5,000 shares of the stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the sale, the chief executive officer owned 123,925 shares in the company, valued at $63,499,170. This represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the transaction, the executive vice president owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.33% of the stock is owned by insiders.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.