First Commonwealth Financial Corp PA Has $969,000 Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

First Commonwealth Financial Corp PA decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 31.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,567 shares of the medical research company’s stock after selling 710 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Thermo Fisher Scientific were worth $969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of Thermo Fisher Scientific by 76,051.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock worth $876,152,000 after acquiring an additional 1,414,556 shares in the last quarter. FMR LLC grew its position in Thermo Fisher Scientific by 19.7% in the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after purchasing an additional 1,294,453 shares in the last quarter. Swedbank AB bought a new stake in Thermo Fisher Scientific during the 1st quarter worth about $705,636,000. Ameriprise Financial Inc. grew its holdings in shares of Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after acquiring an additional 604,895 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Thermo Fisher Scientific during the third quarter worth about $254,412,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction 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 owns 16,663 shares of the company’s stock, valued at $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. In the last 90 days, insiders have sold 37,150 shares of company stock worth $20,651,865. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Up 2.1 %

NYSE TMO traded up $10.58 during trading hours on Wednesday, reaching $523.56. The company’s stock had a trading volume of 240,873 shares, compared to its average volume of 1,497,519. Thermo Fisher Scientific Inc. has a 52 week low of $480.57 and a 52 week high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The stock has a market cap of $200.26 billion, a P/E ratio of 32.16, a P/E/G ratio of 3.40 and a beta of 0.79. The firm has a fifty day simple moving average of $571.75 and a 200-day simple moving average of $579.18.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter in the previous year, the firm posted $5.69 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has approved a share repurchase plan on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The company 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. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of analyst reports. Royal Bank of Canada decreased their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company lowered their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective for the company. Bank of America upped their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Stifel Nicolaus reduced their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Four investment 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 stock. According to MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target 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.