Matrix Asset Advisors Inc. NY Has $10.12 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Matrix Asset Advisors Inc. NY lessened its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 19,456 shares of the medical research company’s stock after selling 297 shares during the period. Matrix Asset Advisors Inc. NY’s holdings in Thermo Fisher Scientific were worth $10,122,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. IFG Advisors LLC lifted its holdings in shares of Thermo Fisher Scientific by 3.3% during the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 17 shares in the last quarter. Trivant Custom Portfolio Group LLC raised its holdings in Thermo Fisher Scientific by 0.4% during the 3rd quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company’s stock worth $2,720,000 after buying an additional 19 shares during the period. Axiom Advisory LLC boosted its holdings in shares of 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 buying an additional 19 shares during the period. Angeles Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 0.5% during the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock worth $2,425,000 after acquiring an additional 19 shares in the last quarter. Finally, Bangor Savings Bank lifted its position in Thermo Fisher Scientific by 6.0% in the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after acquiring an additional 19 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on TMO shares. StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Morgan Stanley cut their target price on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Bernstein Bank lifted their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Stephens started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price for the company. Finally, Stifel Nicolaus lowered their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $648.95.

Thermo Fisher Scientific Trading Up 1.5 %

Shares of NYSE:TMO opened at $583.43 on Tuesday. The stock has a market cap of $223.16 billion, a PE ratio of 36.58, a P/E/G ratio of 3.82 and a beta of 0.76. The business has a 50 day moving average of $533.60 and a 200-day moving average of $569.81. 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 12-month low of $493.30 and a 12-month high of $627.88.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were given 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 dividend yield of 0.27%. Thermo Fisher Scientific’s payout ratio is presently 9.78%.

Thermo Fisher Scientific declared that its board has approved a share buyback program on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were 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 directly owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last three months, insiders have sold 34,850 shares of company stock valued at $19,123,197. 0.34% of the stock is 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.