Magnus Financial Group LLC Purchases 2,306 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Magnus Financial Group LLC increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 67.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,703 shares of the medical research company’s stock after purchasing an additional 2,306 shares during the quarter. Magnus Financial Group LLC’s holdings in Thermo Fisher Scientific were worth $2,967,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. Intech Investment Management LLC increased its position in Thermo Fisher Scientific by 19.4% during the second quarter. Intech Investment Management LLC now owns 3,142 shares of the medical research company’s stock valued at $1,738,000 after acquiring an additional 510 shares during the last quarter. Certified Advisory Corp bought a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $229,000. Evergreen Capital Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 8.0% in the second quarter. Evergreen Capital Management LLC now owns 2,965 shares of the medical research company’s stock worth $1,641,000 after buying an additional 219 shares during the last quarter. Resources Management Corp CT ADV increased its holdings in Thermo Fisher Scientific by 2.1% during the second quarter. Resources Management Corp CT ADV now owns 3,366 shares of the medical research company’s stock valued at $1,861,000 after buying an additional 68 shares during the last quarter. Finally, Providence Capital Advisors LLC raised its position in Thermo Fisher Scientific by 1.0% in the second quarter. Providence Capital Advisors LLC now owns 10,456 shares of the medical research company’s stock worth $5,782,000 after acquiring an additional 103 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the 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 sale, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. The trade was a 13.57 % 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 over the last three months. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TMO. Barclays reduced their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Royal Bank of Canada decreased their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company dropped their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. 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 report on Thursday, October 24th. Finally, Stifel Nicolaus decreased their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $648.95.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $572.99 on Wednesday. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a market capitalization of $219.17 billion, a PE ratio of 35.96, a price-to-earnings-growth ratio of 3.71 and a beta of 0.76. The stock’s fifty day moving average is $530.86 and its two-hundred day moving average is $568.96. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates 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 analyst estimates of $10.63 billion. During the same period last year, the company posted $5.69 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share buyback program on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

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.