Mill Creek Capital Advisors LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 31.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,167 shares of the medical research company's stock after selling 4,149 shares during the period. Mill Creek Capital Advisors LLC's holdings in Thermo Fisher Scientific were worth $5,670,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in Thermo Fisher Scientific during the first quarter worth about $32,000. Acadian Asset Management LLC grew its holdings in shares of Thermo Fisher Scientific by 3.8% in the first quarter. Acadian Asset Management LLC now owns 24,580 shares of the medical research company's stock valued at $14,282,000 after acquiring an additional 909 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Thermo Fisher Scientific in the first quarter worth $1,661,000. Hillsdale Investment Management Inc. grew its stake in Thermo Fisher Scientific by 23.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 321 shares of the medical research company's stock valued at $187,000 after purchasing an additional 60 shares during the period. Finally, MAS Advisors LLC bought a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth $203,000. Institutional investors and hedge funds own 89.23% of the company's stock.
Thermo Fisher Scientific Stock Performance
TMO traded down $19.94 during midday trading on Friday, hitting $513.08. 3,953,117 shares of the company traded hands, compared to its average volume of 1,404,541. Thermo Fisher Scientific Inc. has a 52 week low of $464.17 and a 52 week high of $627.88. The firm has a market capitalization of $196.25 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. 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 company's 50-day moving average is $586.43 and its 200 day moving average is $582.34.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts' consensus estimates of $5.25 by $0.03. The firm 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%. The company's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.69 EPS. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.
Thermo Fisher Scientific announced that its board has initiated a share repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes 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 shares are undervalued.
Thermo Fisher Scientific Announces Dividend
The business also recently announced 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. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.30%. Thermo Fisher Scientific's dividend payout ratio (DPR) is presently 9.78%.
Insider Buying and Selling 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 stock was 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 $7,134,197.76. The trade was a 13.57 % decrease in their position. The sale was disclosed in a document filed 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 that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over 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 insiders.
Analysts Set New Price Targets
TMO has been the subject of a number of research analyst reports. Raymond James raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Bernstein Bank lifted their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. JPMorgan Chase & Co. raised their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an "overweight" rating in a research report on Friday, September 20th. UBS Group upgraded Thermo Fisher Scientific to a "strong-buy" rating in a research note on Monday, September 16th. Finally, Robert W. Baird lowered their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $649.33.
Check Out Our Latest Research Report on Thermo Fisher Scientific
About Thermo Fisher Scientific
(
Free Report)
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.
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