United Services Automobile Association cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.4% in the fourth quarter, Holdings Channel reports. The fund owned 506,147 shares of the medical research company’s stock after selling 17,908 shares during the period. United Services Automobile Association’s holdings in Thermo Fisher Scientific were worth $113,271,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in TMO. Hanson McClain Inc. raised its stake in shares of Thermo Fisher Scientific by 263.9% during the fourth quarter. Hanson McClain Inc. now owns 131 shares of the medical research company’s stock worth $29,000 after buying an additional 95 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $35,000. Gradient Investments LLC raised its stake in shares of Thermo Fisher Scientific by 1,887.5% during the fourth quarter. Gradient Investments LLC now owns 159 shares of the medical research company’s stock worth $36,000 after buying an additional 151 shares during the last quarter. WESPAC Advisors SoCal LLC raised its stake in shares of Thermo Fisher Scientific by 70.0% during the fourth quarter. WESPAC Advisors SoCal LLC now owns 170 shares of the medical research company’s stock worth $38,000 after buying an additional 70 shares during the last quarter. Finally, Doyle Wealth Management bought a new stake in shares of Thermo Fisher Scientific during the fourth quarter worth approximately $38,000. 87.11% of the stock is owned by institutional investors.

A number of equities research analysts recently weighed in on TMO shares. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $270.00 price target for the company in a research note on Monday, November 19th. Needham & Company LLC started coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, January 2nd. They set a “strong-buy” rating and a $271.00 price target for the company. Finally, Barclays boosted their price target on shares of Thermo Fisher Scientific from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, January 3rd. Three research analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $275.70.

TMO opened at $263.09 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.73 and a debt-to-equity ratio of 0.64. The company has a market cap of $104.97 billion, a P/E ratio of 23.66, a price-to-earnings-growth ratio of 1.68 and a beta of 1.13. Thermo Fisher Scientific Inc. has a fifty-two week low of $199.85 and a fifty-two week high of $266.18.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, January 30th. The medical research company reported $3.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.19 by $0.06. The firm had revenue of $6.51 billion during the quarter, compared to analysts’ expectations of $6.26 billion. Thermo Fisher Scientific had a net margin of 12.06% and a return on equity of 16.86%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.79 earnings per share. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 12.14 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 16th. Investors of record on Friday, March 15th will be issued a dividend of $0.19 per share. The ex-dividend date is Thursday, March 14th. This represents a $0.76 dividend on an annualized basis and a yield of 0.29%. This is a boost from Thermo Fisher Scientific’s previous quarterly dividend of $0.17. Thermo Fisher Scientific’s payout ratio is currently 6.12%.

In related news, CAO Peter E. Hornstra sold 5,920 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The shares were sold at an average price of $250.00, for a total transaction of $1,480,000.00. Following the completion of the transaction, the chief accounting officer now owns 17,057 shares in the company, valued at $4,264,250. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephen Williamson sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $266.00, for a total transaction of $665,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 36,927 shares of company stock valued at $9,388,124. Corporate insiders own 0.49% of the company’s stock.

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Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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