Corundum Group Inc. Has $286,000 Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Corundum Group Inc. cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 21.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 549 shares of the medical research company’s stock after selling 148 shares during the quarter. Corundum Group Inc.’s holdings in Thermo Fisher Scientific were worth $286,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in TMO. IFG Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 3.3% in the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after acquiring an additional 17 shares during the last quarter. Trivant Custom Portfolio Group LLC raised its position in Thermo Fisher Scientific by 0.4% in the third quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company’s stock valued at $2,720,000 after purchasing an additional 19 shares during the last quarter. Axiom Advisory LLC grew its holdings in shares of Thermo Fisher Scientific by 1.6% during the third quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock worth $720,000 after purchasing an additional 19 shares during the last quarter. Angeles Wealth Management LLC increased its stake in shares of Thermo Fisher Scientific by 0.5% in the third quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock valued at $2,425,000 after buying an additional 19 shares during the period. Finally, Bangor Savings Bank raised its holdings in Thermo Fisher Scientific by 6.0% in the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock valued at $174,000 after buying an additional 19 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 completion of the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,150 shares of company stock valued at $25,954,465. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on TMO. Stifel Nicolaus dropped their price target 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. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price for the company. Morgan Stanley decreased their price target on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a research note on Monday, January 13th. Royal Bank of Canada decreased their target price on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, TD Cowen lifted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.

Thermo Fisher Scientific Price Performance

TMO opened at $559.72 on Monday. The firm’s fifty day moving average price is $529.96 and its two-hundred day moving average price is $568.33. The company has a market capitalization of $214.09 billion, a price-to-earnings ratio of 35.09, a P/E/G ratio of 3.59 and a beta of 0.76. 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 Inc. has a 1 year low of $493.30 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate 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%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the business posted $5.69 EPS. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its board has authorized a share buyback plan on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes 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 leadership believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s payout ratio is currently 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.