Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Lessened by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 270,462 shares of the medical research company’s stock after selling 4,321 shares during the period. PNC Financial Services Group Inc. owned 0.07% of Thermo Fisher Scientific worth $140,702,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Howard Capital Management Group LLC raised its position in shares of Thermo Fisher Scientific by 0.5% during the 3rd quarter. Howard Capital Management Group LLC now owns 54,575 shares of the medical research company’s stock valued at $33,759,000 after acquiring an additional 286 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Thermo Fisher Scientific by 22.1% during the third quarter. Principal Financial Group Inc. now owns 1,247,838 shares of the medical research company’s stock worth $771,876,000 after purchasing an additional 225,568 shares during the period. Verity Asset Management Inc. acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $283,000. Capital Performance Advisors LLP bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $129,000. Finally, AEGON ASSET MANAGEMENT UK Plc lifted its holdings in Thermo Fisher Scientific by 0.9% in the third quarter. AEGON ASSET MANAGEMENT UK Plc now owns 57,384 shares of the medical research company’s stock worth $35,472,000 after acquiring an additional 507 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on TMO. Scotiabank boosted their price objective on Thermo Fisher Scientific from $605.00 to $650.00 and gave the company a “sector perform” rating in a research report on Monday, February 3rd. StockNews.com raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Morgan Stanley boosted their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Raymond James restated an “outperform” rating and issued a $667.00 target price (up from $650.00) on shares of Thermo Fisher Scientific in a research report on Monday, February 3rd. Finally, 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 research note on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $653.23.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Tuesday, February 4th. The stock was sold at an average price of $585.59, for a total transaction of $175,677.00. Following the completion of the sale, the executive vice president now directly owns 16,363 shares of the company’s stock, valued at $9,582,009.17. This trade represents a 1.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total transaction of $5,166,700.00. Following the transaction, the chief executive officer now directly owns 115,174 shares in the company, valued at approximately $59,506,950.58. The trade was a 7.99 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,125 shares of company stock worth $11,095,799. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Trading Up 0.8 %

Thermo Fisher Scientific stock opened at $531.74 on Friday. The company has a 50 day moving average price of $549.11 and a 200 day moving average price of $562.32. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.29 and a current ratio of 1.66. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The firm has a market capitalization of $200.60 billion, a price-to-earnings ratio of 32.17, a P/E/G ratio of 2.99 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. Research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.43 per share. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 10.41%.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share repurchase program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.