Atalan Capital Partners LP Has $110.72 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Atalan Capital Partners LP cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 179,000 shares of the medical research company’s stock after selling 10,000 shares during the quarter. Thermo Fisher Scientific makes up about 9.5% of Atalan Capital Partners LP’s holdings, making the stock its 7th biggest position. Atalan Capital Partners LP’s holdings in Thermo Fisher Scientific were worth $110,724,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC grew its holdings in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. Peterson Financial Group Inc. purchased a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at $27,000. New Millennium Group LLC bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth $29,000. Stephens Consulting LLC grew its position in shares of Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 29 shares during the period. Finally, Bank & Trust Co purchased a new position in shares of Thermo Fisher Scientific in the second quarter worth about $33,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 1.5 %

TMO opened at $529.63 on Monday. The business’s 50-day moving average price is $566.33 and its 200-day moving average price is $577.69. 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 Inc. has a 12 month low of $487.06 and a 12 month high of $627.88. The company 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.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The company 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%. The firm’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $5.69 EPS. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

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 issued 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 currently 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has approved a share buyback 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 reacquire up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Stephens started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective for the company. JPMorgan Chase & Co. lifted their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Wells Fargo & Company dropped their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Sanford C. Bernstein decreased their price target on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Finally, Stifel Nicolaus reduced their price objective 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 analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,150 shares of company stock valued at $20,651,865. Company insiders own 0.34% of the company’s stock.

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.