McIlrath & Eck LLC Sells 40 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

McIlrath & Eck LLC lessened its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 16.9% during the 3rd quarter, Holdings Channel reports. The firm owned 197 shares of the medical research company’s stock after selling 40 shares during the quarter. McIlrath & Eck LLC’s holdings in Thermo Fisher Scientific were worth $122,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TMO. International Assets Investment Management LLC increased its position in Thermo Fisher Scientific by 76,051.4% in 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 acquiring an additional 1,414,556 shares in the last quarter. FMR LLC grew its stake in shares of 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 valued at $4,872,761,000 after purchasing an additional 1,294,453 shares during the last quarter. Ameriprise Financial Inc. raised its position in Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after purchasing an additional 604,895 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Thermo Fisher Scientific during the 3rd quarter worth $254,412,000. Finally, Point72 Asset Management L.P. boosted its position in Thermo Fisher Scientific by 743.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after buying an additional 296,646 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.3 %

TMO stock opened at $535.85 on Wednesday. The stock has a market cap of $204.96 billion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77. The company has a fifty day moving average price of $556.46 and a two-hundred day moving average price of $575.08. Thermo Fisher Scientific Inc. has a one year low of $491.33 and a one year high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

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 for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the prior year, the firm earned $5.69 EPS. The business’s revenue was up .2% on a year-over-year basis. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has initiated 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 purchase up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is 9.78%.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the 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 sale, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. This represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on TMO. Stifel Nicolaus reduced their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Sanford C. Bernstein lowered their target price on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Evercore ISI decreased their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Four research 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.