Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by First Long Island Investors LLC

First Long Island Investors LLC lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.7% in the third quarter, Holdings Channel reports. The institutional investor owned 1,197 shares of the medical research company’s stock after selling 100 shares during the quarter. First Long Island Investors LLC’s holdings in Thermo Fisher Scientific were worth $740,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC increased its position 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 acquiring an additional 35 shares during the period. New Millennium Group LLC acquired a new stake in shares of Thermo Fisher Scientific during the second quarter worth $29,000. Stephens Consulting LLC lifted its stake in 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 buying an additional 29 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Thermo Fisher Scientific in the first quarter worth $32,000. Finally, Bank & Trust Co purchased a new position in Thermo Fisher Scientific during the second quarter valued at approximately $33,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on TMO. Royal Bank of Canada cut 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 reduced their price target 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. Sanford C. Bernstein lowered their price target on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Redburn Atlantic began coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price objective on the stock. Finally, Barclays cut 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 research note on Wednesday, October 23rd. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Trading Down 3.8 %

Shares of TMO stock traded down $20.30 on Friday, hitting $512.72. The stock had a trading volume of 1,174,289 shares, compared to its average volume of 1,460,813. Thermo Fisher Scientific Inc. has a twelve month low of $464.17 and a twelve month high of $627.88. The firm has a market cap of $196.12 billion, a P/E ratio of 32.68, a PEG ratio of 3.58 and a beta of 0.79. 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 company has a fifty day moving average price of $588.39 and a two-hundred day moving average price of $582.69.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share 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 firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same period in the prior year, the business earned $5.69 EPS. The company’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date 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 payout ratio is 9.78%.

Insider Activity

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction that occurred on 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 transaction, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. This 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, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on 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 in the company, valued at $67,175,513.68. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is owned by company insiders.

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.