Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,549 shares of the medical research company’s stock after selling 40 shares during the period. Sheets Smith Wealth Management’s holdings in Thermo Fisher Scientific were worth $1,576,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atria Investments Inc raised its stake in Thermo Fisher Scientific by 5.2% during the 3rd quarter. Atria Investments Inc now owns 49,238 shares of the medical research company’s stock worth $30,457,000 after acquiring an additional 2,433 shares in the last quarter. Essex Savings Bank increased its position in shares of Thermo Fisher Scientific by 10.5% during the third quarter. Essex Savings Bank now owns 1,703 shares of the medical research company’s stock worth $1,053,000 after purchasing an additional 162 shares in the last quarter. Klingman & Associates LLC lifted its holdings in shares of Thermo Fisher Scientific by 300.1% in the 3rd quarter. Klingman & Associates LLC now owns 3,137 shares of the medical research company’s stock valued at $1,940,000 after purchasing an additional 2,353 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in Thermo Fisher Scientific by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 4,047 shares of the medical research company’s stock worth $2,503,000 after buying an additional 174 shares during the last quarter. Finally, Markel Group Inc. lifted its stake in Thermo Fisher Scientific by 20.4% in the third quarter. Markel Group Inc. now owns 35,400 shares of the medical research company’s stock valued at $21,897,000 after buying an additional 6,000 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.7 %

Thermo Fisher Scientific stock opened at $551.74 on Friday. Thermo Fisher Scientific Inc. has a fifty-two week low of $437.26 and a fifty-two week high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The stock’s fifty day moving average is $593.95 and its two-hundred day moving average is $583.63. The firm has a market capitalization of $211.04 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 3.65 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly 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 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 the consensus estimate of $10.63 billion. During the same quarter in the prior year, the firm earned $5.69 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts predict that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared 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 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TMO. Stifel Nicolaus cut their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Morgan Stanley raised their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Stephens began coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Finally, Evercore ISI dropped their target price 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. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific presently 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, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at approximately $67,175,513.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the transaction, the chief executive officer now owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 5,850 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $557.89, for a total transaction of $3,263,656.50. Following the completion of the sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,611,804.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,150 shares of company stock valued at $15,676,125 over the last quarter. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific 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.