Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Paloma Partners Management Co

Paloma Partners Management Co lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 60.4% during the third quarter, Holdings Channel.com reports. The fund owned 1,300 shares of the medical research company’s stock after selling 1,984 shares during the quarter. Paloma Partners Management Co’s holdings in Thermo Fisher Scientific were worth $804,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of TMO. BDF Gestion purchased a new stake in shares of Thermo Fisher Scientific during the second quarter worth approximately $6,368,000. Nisa Investment Advisors LLC grew its holdings in shares of Thermo Fisher Scientific by 6.2% during the third quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock worth $87,093,000 after buying an additional 8,180 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 29.2% in the third quarter. Summit Trail Advisors LLC now owns 5,378 shares of the medical research company’s stock worth $3,329,000 after buying an additional 1,214 shares in the last quarter. Simplify Asset Management Inc. grew its stake in Thermo Fisher Scientific by 67.4% during the 3rd quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company’s stock valued at $8,518,000 after acquiring an additional 5,546 shares in the last quarter. Finally, Simmons Bank lifted its position in Thermo Fisher Scientific by 60.2% during the third quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock worth $5,087,000 after buying an additional 3,090 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $529.95 on Tuesday. Thermo Fisher Scientific Inc. has a 52 week low of $487.06 and a 52 week high of $627.88. The firm has a market capitalization of $202.71 billion, a P/E ratio of 33.23, a P/E/G ratio of 3.50 and a beta of 0.77. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The firm’s 50 day moving average is $566.33 and its two-hundred day moving average is $577.69.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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 return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the prior year, the company earned $5.69 earnings per share. The company’s revenue was up .2% compared to the same quarter last year. Research analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase program on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TMO shares. JPMorgan Chase & Co. raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Evercore ISI decreased 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. Stephens assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price for the company. Bank of America upped their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Barclays reduced their price objective on shares of 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. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction 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 completion of the transaction, the senior vice president now owns 12,736 shares in the company, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The shares were 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 in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock worth $20,651,865 in the last quarter. Company insiders own 0.34% of the company’s stock.

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.