Cornerstone Wealth Management LLC Acquires 101 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Cornerstone Wealth Management LLC boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 16.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 730 shares of the medical research company’s stock after buying an additional 101 shares during the period. Cornerstone Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $380,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Legacy Investment Solutions LLC bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth about $26,000. Peterson Financial Group Inc. acquired a new position in Thermo Fisher Scientific in the 3rd quarter valued at approximately $27,000. Missouri Trust & Investment Co acquired a new stake in shares of Thermo Fisher Scientific during the 4th quarter worth approximately $29,000. Endeavor Private Wealth Inc. bought a new position in Thermo Fisher Scientific in the fourth quarter worth $30,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in Thermo Fisher Scientific in the 3rd quarter valued at $50,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 5,850 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $557.89, for a total transaction of $3,263,656.50. Following the completion of the transaction, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,611,804.88. This represents a 4.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last quarter, insiders have sold 34,850 shares of company stock valued at $19,123,197. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on TMO shares. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price target for the company. Stifel Nicolaus lowered their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Evercore ISI reduced their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Stephens initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target for the company. Finally, Morgan Stanley dropped their price objective on shares of Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a report on Monday, January 13th. Four equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.

Thermo Fisher Scientific Trading Up 0.1 %

Shares of NYSE TMO opened at $575.21 on Monday. The company’s fifty day moving average is $533.60 and its 200-day moving average is $569.58. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The stock has a market cap of $220.02 billion, a price-to-earnings ratio of 36.06, a P/E/G ratio of 3.82 and a beta of 0.76. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were paid a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. Thermo Fisher Scientific’s payout ratio is 9.78%.

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.