Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by McIlrath & Eck LLC

McIlrath & Eck LLC reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 16.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Signature Resources Capital Management LLC grew its stake in shares of Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares during the last quarter. Legacy Investment Solutions LLC bought a new stake in Thermo Fisher Scientific during the third quarter worth approximately $26,000. Peterson Financial Group Inc. bought a new position in shares of Thermo Fisher Scientific in the third quarter valued at $27,000. New Millennium Group LLC acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at $29,000. Finally, Stephens Consulting LLC boosted its stake 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 worth $30,000 after acquiring an additional 29 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. TD Cowen upped their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Robert W. Baird decreased their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada cut their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Bernstein Bank raised their price objective on shares of 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, Barclays decreased their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction 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 of the company’s stock, valued at $58,960,669.92. This represents a 8.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was 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 approximately $9,333,946.08. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Performance

TMO stock opened at $535.85 on Wednesday. The company has a market capitalization of $204.96 billion, a price-to-earnings ratio of 33.60, a P/E/G ratio of 3.56 and a beta of 0.77. The firm has a 50 day moving average of $556.46 and a two-hundred day moving average of $575.08. 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 12 month low of $491.33 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its 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. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business’s revenue was up .2% compared to the same quarter last year. During the same period last year, the company earned $5.69 earnings per share. As a group, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific declared that its Board of Directors has approved a share repurchase plan on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its stock is undervalued.

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.