Hartford Funds Management Co LLC Has $319,000 Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Hartford Funds Management Co LLC raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) by 34.9% during the third quarter, HoldingsChannel.com reports. The firm owned 630 shares of the medical research company’s stock after acquiring an additional 163 shares during the quarter. Thermo Fisher Scientific makes up 0.0% of Hartford Funds Management Co LLC’s portfolio, making the stock its 14th biggest position. Hartford Funds Management Co LLC’s holdings in Thermo Fisher Scientific were worth $319,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TMO. Grayhawk Investment Strategies Inc. bought a new stake in shares of Thermo Fisher Scientific in the second quarter worth about $26,000. Lowe Wealth Advisors LLC boosted its holdings in Thermo Fisher Scientific by 160.0% during the third quarter. Lowe Wealth Advisors LLC now owns 52 shares of the medical research company’s stock worth $26,000 after purchasing an additional 32 shares during the last quarter. Tortoise Investment Management LLC increased its position in shares of Thermo Fisher Scientific by 410.0% in the second quarter. Tortoise Investment Management LLC now owns 51 shares of the medical research company’s stock valued at $28,000 after acquiring an additional 41 shares during the last quarter. Better Money Decisions LLC acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $29,000. Finally, New Millennium Group LLC bought a new stake in Thermo Fisher Scientific during the second quarter worth $29,000. 85.92% of the stock is owned by institutional investors.

Thermo Fisher Scientific Price Performance

TMO traded down $13.34 on Wednesday, reaching $567.38. The company had a trading volume of 426,611 shares, compared to its average volume of 1,952,851. Thermo Fisher Scientific Inc. has a 52-week low of $475.77 and a 52-week high of $618.35. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.22 and a current ratio of 1.74. The company has a market cap of $222.52 billion, a price-to-earnings ratio of 32.64, a P/E/G ratio of 2.11 and a beta of 0.83. The business has a 50 day simple moving average of $556.73 and a 200 day simple moving average of $547.95.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last announced its quarterly earnings data on Wednesday, October 26th. The medical research company reported $5.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.78 by $0.30. The firm had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $9.86 billion. Thermo Fisher Scientific had a return on equity of 22.97% and a net margin of 15.92%. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.04 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 16th. Stockholders of record on Thursday, December 15th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 0.21%. The ex-dividend date was Wednesday, December 14th. Thermo Fisher Scientific’s payout ratio is presently 6.75%.

Thermo Fisher Scientific declared that its Board of Directors has authorized a stock buyback program on Thursday, November 10th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on TMO shares. Royal Bank of Canada initiated coverage on Thermo Fisher Scientific in a research note on Tuesday, December 6th. They issued an “outperform” rating and a $661.00 price target on the stock. SVB Leerink increased their price objective on shares of Thermo Fisher Scientific from $555.00 to $620.00 and gave the stock an “outperform” rating in a research note on Friday, January 6th. Deutsche Bank Aktiengesellschaft assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, December 13th. They issued a “buy” rating and a $620.00 price objective on the stock. StockNews.com began coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, October 12th. They set a “buy” rating on the stock. Finally, Morgan Stanley dropped their price objective on shares of Thermo Fisher Scientific from $678.00 to $613.00 and set an “overweight” rating for the company in a report on Thursday, October 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $633.30.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 8,200 shares of the stock in a transaction on Thursday, November 3rd. The stock was sold at an average price of $487.45, for a total value of $3,997,090.00. Following the sale, the chief executive officer now directly owns 178,005 shares of the company’s stock, valued at $86,768,537.25. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Marc N. Casper sold 8,100 shares of Thermo Fisher Scientific stock in a transaction on Monday, November 7th. The stock was sold at an average price of $493.16, for a total value of $3,994,596.00. Following the completion of the sale, the chief executive officer now owns 178,005 shares of the company’s stock, valued at $87,784,945.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 8,200 shares of the stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $487.45, for a total value of $3,997,090.00. Following the completion of the transaction, the chief executive officer now directly owns 178,005 shares in the company, valued at approximately $86,768,537.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 31,475 shares of company stock valued at $16,073,443. 0.43% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Company Profile

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Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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