Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by TrinityPoint Wealth LLC

TrinityPoint Wealth LLC decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,962 shares of the medical research company’s stock after selling 49 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Thermo Fisher Scientific were worth $2,451,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Glass Wealth Management Co LLC grew its holdings in Thermo Fisher Scientific by 4.3% during the 3rd quarter. Glass Wealth Management Co LLC now owns 4,562 shares of the medical research company’s stock valued at $2,822,000 after buying an additional 190 shares during the last quarter. Claro Advisors LLC grew its holdings in Thermo Fisher Scientific by 75.3% in the 3rd quarter. Claro Advisors LLC now owns 1,299 shares of the medical research company’s stock valued at $804,000 after buying an additional 558 shares during the period. Peterson Financial Group Inc. acquired a new position in Thermo Fisher Scientific during the third quarter worth approximately $27,000. Tower Bridge Advisors raised its position in shares of Thermo Fisher Scientific by 0.7% in the 3rd quarter. Tower Bridge Advisors now owns 25,343 shares of the medical research company’s stock worth $15,677,000 after buying an additional 184 shares during the period. Finally, Atlanta Consulting Group Advisors LLC purchased a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth about $662,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Michael A. Boxer sold 2,000 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 value of $1,120,320.00. Following the completion of the sale, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,150 shares of company stock worth $20,651,865. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Down 3.7 %

Shares of TMO opened at $513.08 on Monday. 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 stock has a market cap of $196.25 billion, a PE ratio of 32.17, a PEG ratio of 3.39 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 1 year low of $464.17 and a 1 year high of $627.88. The stock has a 50 day simple moving average of $586.43 and a 200-day simple moving average of $582.39.

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 (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period last year, the business earned $5.69 earnings per share. The business’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

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

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio is 9.78%.

Wall Street Analyst Weigh In

TMO has been the topic of several research reports. Royal Bank of Canada cut their price objective on 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. Morgan Stanley upped their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Raymond James lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Stifel Nicolaus reduced their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, Barclays lowered their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Four investment 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 stock. According to data from MarketBeat, the company currently 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.