Accent Capital Management LLC Trims Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Accent Capital Management LLC trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 45.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 854 shares of the medical research company’s stock after selling 721 shares during the quarter. Accent Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $529,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TMO. Capital World Investors raised its stake in shares of Thermo Fisher Scientific by 10.0% during the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after buying an additional 1,231,059 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Thermo Fisher Scientific by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock valued at $5,843,848,000 after purchasing an additional 156,675 shares during the period. Capital Research Global Investors grew its position in Thermo Fisher Scientific by 1.5% during the first quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock valued at $4,715,436,000 after buying an additional 123,523 shares during the period. Ameriprise Financial Inc. raised its position in shares of Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after acquiring an additional 604,895 shares during the period. Finally, Clearbridge Investments LLC boosted its stake in shares of Thermo Fisher Scientific by 0.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,236,776 shares of the medical research company’s stock worth $1,300,036,000 after acquiring an additional 8,046 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $513.08 on Friday. The stock has a market capitalization of $196.25 billion, a P/E ratio of 32.17, a PEG ratio of 3.39 and a beta of 0.79. 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 fifty-two week low of $464.17 and a fifty-two week high of $627.88. The company has a 50 day moving average price of $586.43 and a 200 day moving average price of $582.34.

Thermo Fisher Scientific (NYSE:TMO) last released 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. The company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. Thermo Fisher Scientific’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $5.69 EPS. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

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

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

Analysts Set New Price Targets

A number of research firms recently weighed in on TMO. TD Cowen upped their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Stephens initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Morgan Stanley upped their price target 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, Barclays lowered their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $649.33.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at $8,076,178.88. The trade was a 38.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,150 shares of company stock valued at $20,651,865 in the last three months. 0.34% of the stock is owned by corporate insiders.

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.