Trivant Custom Portfolio Group LLC Trims Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Trivant Custom Portfolio Group LLC lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,207 shares of the medical research company’s stock after selling 191 shares during the period. Thermo Fisher Scientific makes up approximately 1.3% of Trivant Custom Portfolio Group LLC’s portfolio, making the stock its 27th biggest holding. Trivant Custom Portfolio Group LLC’s holdings in Thermo Fisher Scientific were worth $2,189,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Seven Eight Capital LP lifted its stake in shares of Thermo Fisher Scientific by 29.4% in the 2nd quarter. Seven Eight Capital LP now owns 2,586 shares of the medical research company’s stock worth $1,430,000 after acquiring an additional 588 shares during the period. Intech Investment Management LLC lifted its position in Thermo Fisher Scientific by 19.4% in the second quarter. Intech Investment Management LLC now owns 3,142 shares of the medical research company’s stock valued at $1,738,000 after purchasing an additional 510 shares during the period. Brighton Jones LLC increased its position in Thermo Fisher Scientific by 5.9% during the 2nd quarter. Brighton Jones LLC now owns 4,297 shares of the medical research company’s stock worth $2,376,000 after purchasing an additional 240 shares during the period. Ieq Capital LLC lifted its holdings in shares of Thermo Fisher Scientific by 7.5% in the 2nd quarter. Ieq Capital LLC now owns 38,209 shares of the medical research company’s stock valued at $21,130,000 after buying an additional 2,667 shares during the period. Finally, GM Advisory Group LLC boosted its stake in shares of Thermo Fisher Scientific by 2.0% in the second quarter. GM Advisory Group LLC now owns 1,949 shares of the medical research company’s stock valued at $1,078,000 after buying an additional 38 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s 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 trade represents a 1.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

TMO has been the topic of several research analyst reports. Bernstein Bank boosted their target price on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Sanford C. Bernstein raised Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a research note on Friday, January 10th. TD Cowen lifted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Morgan Stanley dropped their price target on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a research report on Monday, January 13th. Finally, Barclays lowered 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 research note on Wednesday, October 23rd. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $648.95.

Thermo Fisher Scientific Stock Down 0.4 %

Shares of TMO opened at $559.72 on Friday. The firm has a market cap of $214.09 billion, a PE ratio of 35.09, a price-to-earnings-growth ratio of 3.59 and a beta of 0.76. 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 company’s fifty day moving average is $529.80 and its two-hundred day moving average is $567.97. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results 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. The firm had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.69 earnings per share. Analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

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.