Atlas Wealth LLC Decreases Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Atlas Wealth LLC cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 14.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,267 shares of the medical research company’s stock after selling 701 shares during the period. Thermo Fisher Scientific comprises 1.1% of Atlas Wealth LLC’s holdings, making the stock its 21st largest holding. Atlas Wealth LLC’s holdings in Thermo Fisher Scientific were worth $2,639,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC increased its position 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 valued at $876,152,000 after purchasing an additional 1,414,556 shares during the last quarter. FMR LLC boosted its stake in Thermo Fisher Scientific by 19.7% during the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after buying an additional 1,294,453 shares during the period. Ameriprise Financial Inc. increased its position in Thermo Fisher Scientific by 32.2% during the second 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 during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter worth about $254,412,000. Finally, Point72 Asset Management L.P. boosted its stake in shares of Thermo Fisher Scientific by 743.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock worth $186,105,000 after purchasing an additional 296,646 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on TMO shares. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective for the company. Sanford C. Bernstein reduced their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada lowered their target price on shares of 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. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Stifel Nicolaus decreased their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $649.33.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the transaction, the chief executive officer now owns 14,608 shares in the company, valued at approximately $8,076,178.88. This represents a 38.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 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 $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $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. Over the last ninety days, insiders sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $529.63 on Monday. Thermo Fisher Scientific Inc. has a 52 week low of $487.06 and a 52 week high of $627.88. 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 has a market cap of $202.58 billion, a P/E ratio of 33.21, a P/E/G ratio of 3.50 and a beta of 0.79. The business’s 50 day moving average price is $566.33 and its 200 day moving average price is $577.69.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) 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 firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter last year, the company posted $5.69 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. On average, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

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 given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a 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 has authorized a stock repurchase program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

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.