1776 Wealth LLC Sells 45 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

1776 Wealth LLC trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 742 shares of the medical research company’s stock after selling 45 shares during the quarter. 1776 Wealth LLC’s holdings in Thermo Fisher Scientific were worth $459,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in TMO. Signature Resources Capital Management LLC lifted its stake in Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares during the period. New Millennium Group LLC bought a new position in Thermo Fisher Scientific in the 2nd quarter valued at $29,000. Stephens Consulting LLC grew its stake in Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares during the period. Headlands Technologies LLC purchased a new position in shares of Thermo Fisher Scientific during the 1st quarter valued at $32,000. Finally, Bank & Trust Co purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at $33,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value 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 $7,134,197.76. This represents a 13.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Trading Down 3.7 %

TMO stock traded down $19.94 during mid-day trading on Friday, reaching $513.08. 3,953,117 shares of the stock traded hands, compared to its average volume of 1,474,214. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. Thermo Fisher Scientific Inc. has a one year low of $464.17 and a one year high of $627.88. The stock has a market capitalization of $196.25 billion, a PE ratio of 32.17, a PEG ratio of 3.58 and a beta of 0.79. The business has a 50-day moving average price of $586.43 and a two-hundred day moving average price of $582.24.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The firm 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 business’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.69 earnings per share. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current year.

Thermo Fisher Scientific declared that its board has initiated a stock buyback plan on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The business 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 dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Analyst Upgrades and Downgrades

TMO has been the topic of a number of recent research reports. Evercore ISI dropped their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Robert W. Baird reduced their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 price target on the stock. Finally, Sanford C. Bernstein reduced their price target on 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. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $649.33.

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.