Campbell Newman Asset Management Inc. Has $1.38 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Campbell Newman Asset Management Inc. trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,644 shares of the medical research company’s stock after selling 37 shares during the period. Campbell Newman Asset Management Inc.’s holdings in Thermo Fisher Scientific were worth $1,375,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of TMO. Legacy Investment Solutions LLC acquired a new position in Thermo Fisher Scientific during the third quarter worth $26,000. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $27,000. HWG Holdings LP bought a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $50,000. RPg Family Wealth Advisory LLC bought a new stake in Thermo Fisher Scientific during the third quarter worth approximately $50,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in shares of Thermo Fisher Scientific in the third quarter valued at approximately $65,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TMO. Barclays decreased their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Redburn Atlantic started coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective on the stock. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 target price for the company in a research note on Friday, January 10th. TD Cowen lifted their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Finally, Bernstein Bank increased their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Four 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. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $648.95.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the sale, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock worth $25,954,465 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO traded up $6.39 during trading hours on Wednesday, hitting $563.38. The stock had a trading volume of 346,551 shares, compared to its average volume of 1,857,356. The stock has a market capitalization of $215.49 billion, a price-to-earnings ratio of 35.32, a P/E/G ratio of 3.54 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The company’s fifty day moving average is $529.85 and its two-hundred day moving average is $568.13. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business posted $5.69 earnings per share. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

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

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.