Stonebrook Private Inc. Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Stonebrook Private Inc. lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 522 shares of the medical research company’s stock after selling 47 shares during the period. Stonebrook Private Inc.’s holdings in Thermo Fisher Scientific were worth $323,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Meridian Wealth Management LLC purchased a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at $1,147,000. Nwam LLC purchased a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at $3,906,000. Studio Investment Management LLC lifted its holdings in Thermo Fisher Scientific by 3.4% during the 3rd quarter. Studio Investment Management LLC now owns 794 shares of the medical research company’s stock worth $491,000 after purchasing an additional 26 shares in the last quarter. GM Advisory Group LLC lifted its holdings in Thermo Fisher Scientific by 19.0% during the 3rd quarter. GM Advisory Group LLC now owns 2,319 shares of the medical research company’s stock worth $1,434,000 after purchasing an additional 370 shares in the last quarter. Finally, Allen Capital Group LLC purchased a new stake in Thermo Fisher Scientific during the 3rd quarter worth about $240,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO opened at $513.26 on Friday. The stock’s 50 day simple moving average is $575.70 and its 200 day simple moving average is $580.10. 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 Inc. has a 1 year low of $480.57 and a 1 year high of $627.88. The firm has a market cap of $196.32 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 3.41 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the previous year, the firm earned $5.69 earnings per share. The business’s revenue was up .2% compared to the same quarter last year. As a group, 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 approved a stock buyback program 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 programs are typically a sign that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid 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 0.30%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. The trade was a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, October 25th. The stock was 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 $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,150 shares of company stock valued at $20,651,865 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TMO. Barclays dropped their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Sanford C. Bernstein dropped their price objective on 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. Evercore ISI dropped their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, Bank of America raised their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $649.33.

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.