Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 61,357 shares of the medical research company's stock after selling 1,287 shares during the period. Peapack Gladstone Financial Corp's holdings in Thermo Fisher Scientific were worth $37,953,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of TMO. Lafayette Investments Inc. raised its holdings in Thermo Fisher Scientific by 2.1% during the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company's stock worth $459,000 after purchasing an additional 17 shares in the last quarter. IFG Advisors LLC grew its position in Thermo Fisher Scientific by 3.3% during the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company's stock worth $329,000 after buying an additional 17 shares during the period. Drive Wealth Management LLC grew its position in 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 buying an additional 18 shares during the period. Worth Financial Advisory Group LLC grew its position in Thermo Fisher Scientific by 3.6% during the second quarter. Worth Financial Advisory Group LLC now owns 544 shares of the medical research company's stock worth $301,000 after buying an additional 19 shares during the period. Finally, Founders Financial Securities LLC grew its position in Thermo Fisher Scientific by 0.9% during the second quarter. Founders Financial Securities LLC now owns 2,058 shares of the medical research company's stock worth $1,138,000 after buying an additional 19 shares during the period. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the transaction, the chief executive officer now directly owns 121,192 shares of the company's stock, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm's 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 transaction, the executive vice president now directly owns 16,663 shares of the company's stock, valued at approximately $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. Insiders sold a total of 47,150 shares of company stock valued at $25,954,465 in the last ninety days. Corporate insiders own 0.34% of the company's stock.

Thermo Fisher Scientific Stock Up 0.4 %

TMO traded up $2.28 during trading hours on Friday, reaching $526.89. 1,466,401 shares of the stock traded hands, compared to its average volume of 1,539,535. The firm's fifty day simple moving average is $551.83 and its two-hundred day simple moving average is $574.11. The company has a market cap of $201.54 billion, a price-to-earnings ratio of 32.83, a PEG ratio of 3.59 and a beta of 0.77. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating analysts' consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business's revenue was up .2% on a year-over-year basis. During the same period last year, the business earned $5.69 EPS. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has approved a stock buyback 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 generally a sign that the company's board believes its stock is undervalued.

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 annualized dividend 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%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Morgan Stanley upped 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. JPMorgan Chase & Co. increased their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an "overweight" rating in a research report on Friday, September 20th. UBS Group upgraded shares of Thermo Fisher Scientific to a "strong-buy" rating in a research report on Monday, September 16th. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a "buy" rating and a $680.00 price target on the stock. Finally, Evercore ISI lowered their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $648.62.

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.