Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Coastline Trust Co

Coastline Trust Co trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,479 shares of the medical research company’s stock after selling 784 shares during the period. Coastline Trust Co’s holdings in Thermo Fisher Scientific were worth $5,863,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in TMO. Signature Resources Capital Management LLC grew its stake 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 acquiring an additional 35 shares in the last quarter. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific during the second quarter worth approximately $29,000. Stephens Consulting LLC grew its holdings 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 buying an additional 29 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Thermo Fisher Scientific in the 1st quarter worth $32,000. Finally, Bank & Trust Co acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $33,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction on 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 owns 12,736 shares in the company, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now 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 disclosure for this sale can be found here. In 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 corporate insiders.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of analyst reports. Stifel Nicolaus reduced their target price 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. Bank of America upped their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Sanford C. Bernstein cut their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Barclays reduced their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Four 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 company’s stock. According to MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $513.08 on Friday. The stock’s 50-day moving average is $586.43 and its two-hundred day moving average is $582.24. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The company has a market cap of $196.25 billion, a price-to-earnings ratio of 32.17, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 1-year low of $464.17 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter last year, the company earned $5.69 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. Analysts forecast that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has approved a share repurchase plan on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

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

About Thermo Fisher Scientific

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.