Platform Technology Partners Sells 41 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Platform Technology Partners lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 630 shares of the medical research company’s stock after selling 41 shares during the quarter. Platform Technology Partners’ holdings in Thermo Fisher Scientific were worth $389,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in TMO. Meridian Management Co. boosted its stake in shares of Thermo Fisher Scientific by 1.7% in the 3rd quarter. Meridian Management Co. now owns 5,703 shares of the medical research company’s stock valued at $3,528,000 after purchasing an additional 93 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Thermo Fisher Scientific by 1.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,104,441 shares of the medical research company’s stock valued at $683,174,000 after buying an additional 18,160 shares during the period. Iyo Bank Ltd. boosted its stake in Thermo Fisher Scientific by 20.3% in the third quarter. Iyo Bank Ltd. now owns 10,909 shares of the medical research company’s stock valued at $6,748,000 after acquiring an additional 1,840 shares during the last quarter. WealthPlan Investment Management LLC raised its position in shares of Thermo Fisher Scientific by 44.9% during the 3rd quarter. WealthPlan Investment Management LLC now owns 3,970 shares of the medical research company’s stock valued at $2,456,000 after acquiring an additional 1,231 shares during the last quarter. Finally, Waverton Investment Management Ltd boosted its position in shares of Thermo Fisher Scientific by 11.4% in the 3rd quarter. Waverton Investment Management Ltd now owns 480,216 shares of the medical research company’s stock worth $296,867,000 after purchasing an additional 49,100 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling

In other news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction 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 in the company, valued at $7,134,197.76. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $558.12, for a total transaction of $5,581,200.00. Following the transaction, the chief executive officer now directly owns 33,608 shares in the company, valued at approximately $18,757,296.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction 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 transaction, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,150 shares of company stock valued at $15,676,125 over the last ninety days. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Sanford C. Bernstein cut their price target on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Bank of America increased their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, 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. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Stock Down 0.9 %

TMO opened at $546.92 on Tuesday. 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 stock has a fifty day moving average of $592.59 and a 200-day moving average of $583.56. Thermo Fisher Scientific Inc. has a fifty-two week low of $439.11 and a fifty-two week high of $627.88. The company has a market capitalization of $209.20 billion, a P/E ratio of 34.29, a P/E/G ratio of 3.65 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion for 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%. During the same quarter last year, the business posted $5.69 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Thermo Fisher Scientific Company 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.