Envestnet Portfolio Solutions Inc. Cuts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Envestnet Portfolio Solutions Inc. lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 41,194 shares of the medical research company’s stock after selling 3,296 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Thermo Fisher Scientific were worth $21,430,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in Thermo Fisher Scientific in the third quarter worth about $26,000. Peterson Financial Group Inc. purchased a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth approximately $27,000. Barrett & Company Inc. bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $28,000. FPC Investment Advisory Inc. bought a new stake in Thermo Fisher Scientific in the fourth quarter worth $28,000. Finally, Missouri Trust & Investment Co purchased a new position in Thermo Fisher Scientific during the fourth quarter worth $29,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Up 2.9 %

Shares of Thermo Fisher Scientific stock opened at $523.44 on Friday. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The firm’s 50 day moving average price is $548.54 and its 200-day moving average price is $559.17. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. The company has a market cap of $197.47 billion, a P/E ratio of 31.67, a PEG ratio of 2.99 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 EPS for the quarter, beating the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a return on equity of 17.51% and a net margin of 14.78%. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a $0.43 dividend. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.39. This represents a $1.72 annualized dividend and a dividend yield of 0.33%. The ex-dividend date is Friday, March 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 10.41%.

Insiders Place Their Bets

In related news, SVP Michael A. Boxer sold 3,775 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $532.52, for a total value of $2,010,263.00. Following the transaction, the senior vice president now directly owns 10,816 shares of the company’s stock, valued at $5,759,736.32. This represents a 25.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $516.67, for a total value of $5,166,700.00. Following the sale, the chief executive officer now 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 23,900 shares of company stock valued at $13,106,062. Insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on TMO shares. Wells Fargo & Company raised their target price on shares of Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Morgan Stanley boosted their target price on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a report on Friday, January 10th. 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 report on Monday, February 3rd. Finally, Royal Bank of Canada set a $693.00 target price on Thermo Fisher Scientific in a research report on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $653.23.

About Thermo Fisher Scientific

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.