Parsons Capital Management Inc. RI Boosts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Parsons Capital Management Inc. RI boosted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 18.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 36,190 shares of the medical research company’s stock after acquiring an additional 5,643 shares during the quarter. Thermo Fisher Scientific accounts for approximately 1.0% of Parsons Capital Management Inc. RI’s holdings, making the stock its 19th biggest holding. Parsons Capital Management Inc. RI’s holdings in Thermo Fisher Scientific were worth $18,827,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. State Street Corp increased its holdings in shares of Thermo Fisher Scientific by 0.8% during the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after acquiring an additional 124,996 shares in the last quarter. FMR LLC lifted its holdings in shares of Thermo Fisher Scientific by 19.7% during the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after purchasing an additional 1,294,453 shares during the period. Geode Capital Management LLC increased its holdings in Thermo Fisher Scientific by 1.7% in 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 buying an additional 127,564 shares during the period. Franklin Resources Inc. raised its holdings in shares of Thermo Fisher Scientific by 5.7% during the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after purchasing an additional 262,062 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its stake in shares of Thermo Fisher Scientific by 2.6% in the third quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock worth $1,630,896,000 after buying an additional 65,586 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.1 %

NYSE TMO opened at $575.21 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The business’s fifty day simple moving average is $533.60 and its 200-day simple moving average is $569.81. The firm has a market cap of $220.02 billion, a PE ratio of 36.06, a P/E/G ratio of 3.82 and a beta of 0.76.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were paid a $0.39 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Thermo Fisher Scientific declared that its board has approved a stock buyback plan on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on TMO shares. Bank of America decreased their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a report on Friday, December 13th. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a research report on Friday, January 10th. Royal Bank of Canada reduced their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Morgan Stanley cut their price objective on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Bernstein Bank lifted their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $648.95.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $558.12, for a total value of $5,581,200.00. Following the completion of the sale, the chief executive officer now owns 33,608 shares in the company, valued at approximately $18,757,296.96. This trade represents a 22.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In the last 90 days, insiders have sold 34,850 shares of company stock valued at $19,123,197. 0.34% of the stock is currently owned by company insiders.

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.