American Trust Lowers Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

American Trust decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,416 shares of the medical research company’s stock after selling 878 shares during the period. American Trust’s holdings in Thermo Fisher Scientific were worth $3,350,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of TMO. Lafayette Investments Inc. increased its stake in shares of Thermo Fisher Scientific by 2.1% in the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after purchasing an additional 17 shares during the period. IFG Advisors LLC raised its stake 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 acquiring an additional 17 shares in the last quarter. Drive Wealth Management LLC grew its stake in shares of Thermo Fisher Scientific by 0.9% in 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 in the last quarter. Worth Financial Advisory Group LLC grew its position in Thermo Fisher Scientific by 3.6% in the 2nd quarter. Worth Financial Advisory Group LLC now owns 544 shares of the medical research company’s stock valued at $301,000 after buying an additional 19 shares in the last quarter. Finally, Founders Financial Securities LLC lifted its stake in shares of Thermo Fisher Scientific by 0.9% in the 2nd quarter. Founders Financial Securities LLC now owns 2,058 shares of the medical research company’s stock worth $1,138,000 after acquiring an additional 19 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $524.86 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. The business has a 50 day moving average price of $551.83 and a 200 day moving average price of $574.11. The company has a market cap of $200.76 billion, a price-to-earnings ratio of 32.91, a PEG ratio of 3.59 and a beta of 0.77. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter last year, the company posted $5.69 earnings per share. Thermo Fisher Scientific’s quarterly revenue was up .2% on a year-over-year basis. Research analysts predict that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

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

Thermo Fisher Scientific announced that its board has authorized a share repurchase program on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America boosted their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Morgan Stanley boosted 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. Evercore ISI lowered their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus cut their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Four research 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. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Insider Transactions at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’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 transaction of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,150 shares of company stock valued at $25,954,465. 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.