Linscomb Wealth Inc. Lowers Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Linscomb Wealth Inc. trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,372 shares of the medical research company’s stock after selling 113 shares during the period. Linscomb Wealth Inc.’s holdings in Thermo Fisher Scientific were worth $849,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC increased its position in Thermo Fisher Scientific by 318.2% during the 2nd 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 in the last quarter. New Millennium Group LLC purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $29,000. Stephens Consulting LLC boosted 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 worth $30,000 after purchasing an additional 29 shares in the last quarter. Headlands Technologies LLC acquired a new position in Thermo Fisher Scientific during the 1st quarter valued at approximately $32,000. Finally, Bank & Trust Co acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth $33,000. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TMO. Robert W. Baird reduced their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their target price 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. Sanford C. Bernstein reduced their price target on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Stifel Nicolaus cut their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, Morgan Stanley upped their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the transaction, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,150 shares of company stock valued at $20,651,865. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 3.7 %

TMO opened at $513.08 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a twelve month low of $464.17 and a twelve month high of $627.88. The company has a market cap of $196.25 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79. The company has a 50-day moving average price of $586.43 and a 200 day moving average price of $582.24.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. Thermo Fisher Scientific’s payout ratio is presently 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase program on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to purchase up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

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.