Salem Investment Counselors Inc. Decreases Stake in Thermo Fisher Scientific Inc. $TMO

Salem Investment Counselors Inc. cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,460 shares of the medical research company’s stock after selling 1,648 shares during the period. Salem Investment Counselors Inc.’s holdings in Thermo Fisher Scientific were worth $9,540,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of TMO. Financial Management Network Inc. increased its holdings in Thermo Fisher Scientific by 3.7% in the third quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock valued at $248,000 after buying an additional 18 shares during the last quarter. Bruce G. Allen Investments LLC lifted its holdings in Thermo Fisher Scientific by 8.8% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock worth $114,000 after buying an additional 19 shares during the last quarter. White Pine Capital LLC increased its holdings in shares of Thermo Fisher Scientific by 3.2% in the 3rd quarter. White Pine Capital LLC now owns 611 shares of the medical research company’s stock valued at $296,000 after acquiring an additional 19 shares during the last quarter. Elevation Wealth Partners LLC raised its position in shares of Thermo Fisher Scientific by 35.1% during the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after acquiring an additional 20 shares in the last quarter. Finally, Hopwood Financial Services Inc. lifted its stake in Thermo Fisher Scientific by 9.1% during the third quarter. Hopwood Financial Services Inc. now owns 239 shares of the medical research company’s stock worth $116,000 after purchasing an additional 20 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $478.29 on Tuesday. The firm has a market capitalization of $177.67 billion, a PE ratio of 26.96, a P/E/G ratio of 2.74 and a beta of 0.96. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The stock’s 50 day moving average is $540.67 and its two-hundred day moving average is $548.27. The company has a current ratio of 1.89, a quick ratio of 1.53 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the company posted $6.10 earnings per share. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, March 13th. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 10.60%.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This trade represents a 1.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc N. Casper sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total transaction of $2,562,000.00. Following the transaction, the chief executive officer directly owned 123,925 shares in the company, valued at $63,499,170. The trade was a 3.88% decrease in their position. The SEC filing for this sale provides additional information. 0.33% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have commented on TMO. KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target on the stock in a research note on Sunday, December 7th. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Morgan Stanley boosted their price target on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Finally, Evercore reiterated an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.