Thermo Fisher Scientific Inc. (NYSE:TMO) is Atalan Capital Partners LP’s 7th Largest Position

Atalan Capital Partners LP cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 179,000 shares of the medical research company’s stock after selling 10,000 shares during the period. Thermo Fisher Scientific comprises about 9.5% of Atalan Capital Partners LP’s holdings, making the stock its 7th largest position. Atalan Capital Partners LP’s holdings in Thermo Fisher Scientific were worth $110,724,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. BDF Gestion purchased a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $6,368,000. Nisa Investment Advisors LLC increased its position in Thermo Fisher Scientific by 6.2% during the third quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock valued at $87,093,000 after acquiring an additional 8,180 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in Thermo Fisher Scientific by 29.2% in the third quarter. Summit Trail Advisors LLC now owns 5,378 shares of the medical research company’s stock valued at $3,329,000 after acquiring an additional 1,214 shares during the period. Simplify Asset Management Inc. grew its stake in shares of Thermo Fisher Scientific by 67.4% during the 3rd quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company’s stock valued at $8,518,000 after purchasing an additional 5,546 shares during the period. Finally, Simmons Bank lifted its stake in shares of Thermo Fisher Scientific by 60.2% in the 3rd quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock worth $5,087,000 after purchasing an additional 3,090 shares during the period. Institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 9,000 shares of the firm’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 transaction of $4,975,740.00. Following the transaction, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. This trade represents a 38.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were 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 owns 12,736 shares of the company’s stock, valued at $7,134,197.76. The trade was a 13.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,150 shares of company stock worth $20,651,865 over the last quarter. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $529.63 on Monday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The stock’s fifty day moving average is $566.33 and its 200 day moving average is $577.69. The firm has a market capitalization of $202.58 billion, a PE ratio of 33.21, a PEG ratio of 3.50 and a beta of 0.79. Thermo Fisher Scientific Inc. has a fifty-two week low of $487.06 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company earned $5.69 EPS. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific declared that its board has approved a share repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. 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 (DPR) is presently 9.78%.

Wall Street Analyst Weigh In

A number of analysts have commented on TMO shares. Morgan Stanley upped their target price 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. Evercore ISI lowered their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays decreased 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 report on Wednesday, October 23rd. Bernstein Bank increased their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. upped their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

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.