Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,773 shares of the medical research company’s stock after selling 421 shares during the period. First Horizon Advisors Inc.’s holdings in Thermo Fisher Scientific were worth $7,282,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Lafayette Investments Inc. grew its holdings in Thermo Fisher Scientific by 2.1% during the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after buying an additional 17 shares during the last quarter. IFG Advisors LLC grew its holdings in Thermo Fisher Scientific by 3.3% during the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 17 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its position in shares of Thermo Fisher Scientific by 1.8% during the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock worth $570,000 after acquiring an additional 18 shares during the last quarter. Drive Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific by 0.9% during the second quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after purchasing an additional 18 shares during the last quarter. Finally, Quent Capital LLC grew its position in shares of Thermo Fisher Scientific by 1.0% during the 2nd quarter. Quent Capital LLC now owns 1,886 shares of the medical research company’s stock valued at $1,043,000 after buying an additional 19 shares during the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TMO. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price target on the stock. Bernstein Bank lifted their target price on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Robert W. Baird decreased their target price on shares of 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. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Bank of America boosted their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the transaction, the chief executive officer now directly owns 14,608 shares in the company, valued at approximately $8,076,178.88. This represents a 38.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the 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 transaction, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. The trade was a 13.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,150 shares of company stock valued at $20,651,865. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.7 %

TMO opened at $512.86 on Thursday. The firm has a market cap of $196.17 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 3.37 and a beta of 0.79. Thermo Fisher Scientific Inc. has a twelve month low of $476.45 and a twelve month high of $627.88. 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 firm’s 50-day simple moving average is $579.63 and its 200-day simple moving average is $580.98.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the previous year, the business earned $5.69 EPS. Thermo Fisher Scientific’s revenue was up .2% compared to the same quarter last year. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific announced that its board has initiated a stock buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.