Highland Capital Management LLC Grows Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Highland Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 33,979 shares of the medical research company’s stock after purchasing an additional 3,102 shares during the quarter. Thermo Fisher Scientific comprises about 1.0% of Highland Capital Management LLC’s investment portfolio, making the stock its 18th biggest position. Highland Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $17,677,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. IFG Advisors LLC boosted its holdings in shares of Thermo Fisher Scientific by 3.3% during the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after purchasing an additional 17 shares during the last quarter. Stonegate Investment Group LLC boosted its holdings in shares of Thermo Fisher Scientific by 0.3% during the fourth quarter. Stonegate Investment Group LLC now owns 6,788 shares of the medical research company’s stock worth $3,531,000 after purchasing an additional 18 shares during the last quarter. Trivant Custom Portfolio Group LLC boosted its holdings in Thermo Fisher Scientific by 0.4% in the third quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company’s stock valued at $2,720,000 after acquiring an additional 19 shares during the last quarter. Axiom Advisory LLC boosted its holdings in Thermo Fisher Scientific by 1.6% in the third quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock valued at $720,000 after acquiring an additional 19 shares during the last quarter. Finally, Angeles Wealth Management LLC boosted its holdings in Thermo Fisher Scientific by 0.5% in the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock valued at $2,425,000 after acquiring an additional 19 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 2.9 %

Shares of Thermo Fisher Scientific stock opened at $567.09 on Thursday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The firm has a market cap of $216.91 billion, a P/E ratio of 35.55, a P/E/G ratio of 3.82 and a beta of 0.76. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The business has a 50-day moving average price of $536.74 and a 200 day moving average price of $570.35.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the company. Bank of America reduced their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Barclays reduced their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Robert W. Baird cut their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Evercore ISI cut their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Scotiabank started coverage on Thermo Fisher Scientific in a research report on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the transaction, the chief executive officer now directly owns 111,192 shares in the company, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 34,850 shares of company stock worth $19,123,197 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific 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.