Atlanta Consulting Group Advisors LLC Purchases Shares of 1,071 Thermo Fisher Scientific Inc. (NYSE:TMO)

Atlanta Consulting Group Advisors LLC purchased a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) during the third quarter, HoldingsChannel.com reports. The firm purchased 1,071 shares of the medical research company’s stock, valued at approximately $662,000.

Other hedge funds also recently made changes to their positions in the company. Phraction Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 1.5% during the 3rd quarter. Phraction Management LLC now owns 27,600 shares of the medical research company’s stock valued at $17,073,000 after acquiring an additional 395 shares in the last quarter. Schear Investment Advisers LLC lifted its holdings in shares of Thermo Fisher Scientific by 9.0% during the 3rd quarter. Schear Investment Advisers LLC now owns 1,165 shares of the medical research company’s stock valued at $721,000 after acquiring an additional 96 shares in the last quarter. Spinnaker Investment Group LLC acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at $203,000. Accredited Investors Inc. lifted its holdings in shares of Thermo Fisher Scientific by 8.3% during the 3rd quarter. Accredited Investors Inc. now owns 981 shares of the medical research company’s stock valued at $607,000 after acquiring an additional 75 shares in the last quarter. Finally, Turtle Creek Wealth Advisors LLC lifted its holdings in shares of Thermo Fisher Scientific by 7.2% during the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 921 shares of the medical research company’s stock valued at $570,000 after acquiring an additional 62 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $552.86, for a total value of $4,975,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. This represents a 38.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 transaction of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,150 shares of company stock valued at $20,651,865 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on TMO. Barclays dropped their price target 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. JPMorgan Chase & Co. lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Morgan Stanley lifted their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Bank of America lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Redburn Atlantic started coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 price target on the stock. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $513.08 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a fifty-two week low of $464.17 and a fifty-two week high of $627.88. The firm has a 50-day simple moving average of $586.43 and a 200 day simple moving average of $582.34. The company has a market cap of $196.25 billion, a PE ratio of 32.17, a P/E/G ratio of 3.39 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last posted its 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 analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. Thermo Fisher Scientific’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $5.69 EPS. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific announced that its board has approved 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 shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced 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. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

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.