Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Triangle Securities Wealth Management

Triangle Securities Wealth Management cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,638 shares of the medical research company’s stock after selling 43 shares during the period. Triangle Securities Wealth Management’s holdings in Thermo Fisher Scientific were worth $852,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TMO. Intech Investment Management LLC lifted its holdings in Thermo Fisher Scientific by 19.4% in the 2nd quarter. Intech Investment Management LLC now owns 3,142 shares of the medical research company’s stock valued at $1,738,000 after acquiring an additional 510 shares during the last quarter. Brighton Jones LLC lifted its stake in Thermo Fisher Scientific by 5.9% during the second quarter. Brighton Jones LLC now owns 4,297 shares of the medical research company’s stock valued at $2,376,000 after purchasing an additional 240 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its position in Thermo Fisher Scientific by 1.5% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 11,337 shares of the medical research company’s stock worth $6,269,000 after buying an additional 172 shares during the last quarter. Pacer Advisors Inc. lifted its position in shares of Thermo Fisher Scientific by 6.2% during the 2nd quarter. Pacer Advisors Inc. now owns 28,900 shares of the medical research company’s stock valued at $15,982,000 after acquiring an additional 1,685 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Thermo Fisher Scientific by 0.6% during the 2nd quarter. Sei Investments Co. now owns 275,144 shares of the medical research company’s stock worth $152,160,000 after acquiring an additional 1,598 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the sale, the chief executive officer now owns 111,192 shares of the company’s stock, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 47,150 shares of company stock worth $25,954,465 in the last quarter. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Down 0.4 %

Thermo Fisher Scientific stock opened at $559.72 on Friday. The company has a market capitalization of $214.09 billion, a P/E ratio of 35.09, a P/E/G ratio of 3.59 and a beta of 0.76. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The firm’s fifty day simple moving average is $529.96 and its 200-day simple moving average is $568.09. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly 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. The company 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 revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.69 EPS. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a share repurchase program on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were issued a dividend of $0.39 per share. 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 dividend payout ratio is currently 9.78%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TMO. Stifel Nicolaus decreased their price target 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. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price for the company. TD Cowen upped their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada lowered their price objective on shares of 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. Finally, Bernstein Bank raised their target price on 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. Four investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.

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.