Drive Wealth Management LLC Has $910,000 Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Drive Wealth Management LLC lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 17.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,749 shares of the medical research company’s stock after selling 360 shares during the quarter. Drive Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $910,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TMO. International Assets Investment Management LLC grew its position in Thermo Fisher Scientific by 76,051.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after purchasing an additional 1,414,556 shares during the period. FMR LLC grew its position in Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after purchasing an additional 1,294,453 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Thermo Fisher Scientific during the 3rd quarter valued at $254,412,000. Lindsell Train Ltd bought a new position in Thermo Fisher Scientific during the 4th quarter valued at $211,858,000. Finally, Franklin Resources Inc. lifted its stake in Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after acquiring an additional 262,062 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on TMO shares. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley lowered their target price on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Stephens assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price on the stock. Scotiabank assumed coverage on Thermo Fisher Scientific in a research note on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 price objective on the stock. Finally, Royal Bank of Canada lowered their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $648.95.

Thermo Fisher Scientific Stock Up 0.1 %

Shares of TMO stock opened at $575.21 on Monday. The stock’s 50-day simple moving average is $533.60 and its 200-day simple moving average is $569.58. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The firm has a market capitalization of $220.02 billion, a PE ratio of 36.06, a P/E/G ratio of 3.82 and a beta of 0.76. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88.

Thermo Fisher Scientific Announces Dividend

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

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

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the transaction, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have sold a total of 34,850 shares of company stock valued at $19,123,197 over the last ninety days. Company insiders own 0.34% of the company’s stock.

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.