CCM Investment Advisers LLC Acquires 2,822 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

CCM Investment Advisers LLC lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 31,921 shares of the medical research company’s stock after buying an additional 2,822 shares during the quarter. Thermo Fisher Scientific makes up 1.8% of CCM Investment Advisers LLC’s holdings, making the stock its 19th largest holding. CCM Investment Advisers LLC’s holdings in Thermo Fisher Scientific were worth $16,606,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Legacy Investment Solutions LLC purchased a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth about $26,000. Peterson Financial Group Inc. bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $27,000. RPg Family Wealth Advisory LLC bought a new stake in Thermo Fisher Scientific during the 3rd quarter valued at $50,000. HWG Holdings LP purchased a new stake in shares of Thermo Fisher Scientific during the second quarter valued at about $50,000. Finally, Teachers Insurance & Annuity Association of America purchased a new stake in Thermo Fisher Scientific during the third quarter valued at approximately $65,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 111,192 shares in the company, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock worth $25,954,465 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.2 %

Shares of TMO stock traded down $1.28 on Friday, hitting $543.65. The stock had a trading volume of 1,324,758 shares, compared to its average volume of 1,709,117. The firm has a market capitalization of $207.95 billion, a P/E ratio of 34.08, a P/E/G ratio of 3.54 and a beta of 0.76. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The company’s 50 day moving average price is $530.21 and its 200-day moving average price is $568.07.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $5.69 EPS. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has initiated a share 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 buy up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. Thermo Fisher Scientific’s payout ratio is 9.78%.

Analyst Ratings Changes

Several analysts have weighed in on TMO shares. Stephens initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price on the stock. Barclays reduced their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Scotiabank began coverage on shares of Thermo Fisher Scientific in a research report on Monday, December 23rd. They set a “sector perform” rating and a $605.00 target price for the company. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 target price for the company. Finally, Robert W. Baird dropped their price target on shares of 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. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $650.52.

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.