Summa Corp. Boosts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Summa Corp. grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,456 shares of the medical research company’s stock after buying an additional 100 shares during the quarter. Thermo Fisher Scientific accounts for 0.4% of Summa Corp.’s portfolio, making the stock its 19th largest position. Summa Corp.’s holdings in Thermo Fisher Scientific were worth $757,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TMO. International Assets Investment Management LLC raised its position in shares of Thermo Fisher Scientific by 76,051.4% during 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 increased its holdings 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 acquiring an additional 1,294,453 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Thermo Fisher Scientific in the 3rd quarter valued at $254,412,000. Lindsell Train Ltd bought a new stake in Thermo Fisher Scientific in the 4th quarter valued at $211,858,000. Finally, Franklin Resources Inc. increased its holdings in shares of Thermo Fisher Scientific by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after buying an additional 262,062 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 2.9 %

Shares of Thermo Fisher Scientific stock opened at $567.09 on Thursday. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88. The company has a 50 day moving average of $536.74 and a 200 day moving average of $570.35. 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 company has a market capitalization of $216.91 billion, a P/E ratio of 35.55, a P/E/G ratio of 3.82 and a beta of 0.76.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were issued a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Thermo Fisher Scientific declared that its board has authorized a stock buyback plan 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 plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Scotiabank started coverage on shares of Thermo Fisher Scientific in a research note on Monday, December 23rd. They set a “sector perform” rating and a $605.00 price target for the company. Bernstein Bank boosted their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 price objective for the company. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a research note on Friday, January 10th. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $648.95.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $558.12, for a total transaction of $5,581,200.00. Following the completion of the sale, the chief executive officer now directly owns 33,608 shares in the company, valued at approximately $18,757,296.96. This trade represents a 22.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last quarter, insiders have sold 34,850 shares of company stock valued at $19,123,197. 0.34% of the stock is owned by corporate insiders.

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.