Grimes & Company Inc. Grows Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Grimes & Company Inc. grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 502.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,390 shares of the medical research company’s stock after buying an additional 12,000 shares during the quarter. Grimes & Company Inc.’s holdings in Thermo Fisher Scientific were worth $7,486,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Geode Capital Management LLC increased its position in Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after purchasing an additional 127,564 shares in the last quarter. Coldstream Capital Management Inc. raised its holdings in shares of Thermo Fisher Scientific by 11.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock valued at $5,972,000 after buying an additional 995 shares during the period. Greenwood Gearhart Inc. increased its holdings in Thermo Fisher Scientific by 9.8% during the 3rd quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock worth $12,730,000 after purchasing an additional 1,837 shares during the last quarter. Nordea Investment Management AB increased its holdings in Thermo Fisher Scientific by 23.6% during the 4th quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock worth $28,868,000 after purchasing an additional 10,606 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC increased its holdings in shares of Thermo Fisher Scientific by 6.2% in the 4th quarter. S.E.E.D. Planning Group LLC now owns 10,626 shares of the medical research company’s stock valued at $5,528,000 after acquiring an additional 618 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders sold 44,850 shares of company stock worth $24,666,097 over the last three months. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

TMO opened at $575.21 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88. The company has a market capitalization 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. 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 business’s 50-day moving average price is $533.60 and its two-hundred day moving average price is $569.32.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. The company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.69 earnings per share. Equities analysts expect that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has approved a stock buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership 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. Shareholders of record on Friday, December 13th were paid 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 payout ratio is presently 9.78%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on TMO shares. Stephens started coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Redburn Atlantic started coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 price objective for the company. Evercore ISI reduced their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Bernstein Bank boosted 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. Finally, Royal Bank of Canada reduced their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Four research 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $648.95.

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.