Iron Gate Global Advisors LLC Reduces Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Iron Gate Global Advisors LLC trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 508 shares of the medical research company’s stock after selling 70 shares during the period. Iron Gate Global Advisors LLC’s holdings in Thermo Fisher Scientific were worth $314,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at about $27,000. New Millennium Group LLC bought a new stake in shares of Thermo Fisher Scientific during the second quarter valued at approximately $29,000. Stephens Consulting LLC lifted its stake in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 29 shares during the period. Finally, Triad Wealth Partners LLC acquired a new position in Thermo Fisher Scientific during the second quarter valued at approximately $43,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 9,000 shares of the firm’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the sale, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at $8,076,178.88. This trade represents a 38.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the company’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 completion of the sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $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 sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Up 0.1 %

Thermo Fisher Scientific stock opened at $529.95 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $202.71 billion, a price-to-earnings ratio of 33.23, a P/E/G ratio of 3.50 and a beta of 0.77. The firm has a 50 day simple moving average of $566.33 and a 200 day simple moving average of $577.69. Thermo Fisher Scientific Inc. has a 1-year low of $487.06 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted 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 company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period 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. On average, analysts predict that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has authorized a stock repurchase program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its stock is 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 given a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Analyst Upgrades and Downgrades

TMO has been the subject of several analyst reports. Royal Bank of Canada lowered their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Barclays cut their target price 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. Morgan Stanley raised their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price on the stock. Finally, Robert W. Baird cut their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $649.33.

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.