Independent Family Office LLC Lowers Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Independent Family Office LLC decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 28.4% in the 3rd quarter, HoldingsChannel reports. The firm owned 2,257 shares of the medical research company’s stock after selling 896 shares during the quarter. Thermo Fisher Scientific makes up 0.7% of Independent Family Office LLC’s holdings, making the stock its 25th biggest holding. Independent Family Office LLC’s holdings in Thermo Fisher Scientific were worth $1,396,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in TMO. International Assets Investment Management LLC raised its holdings in Thermo Fisher Scientific by 76,051.4% in the third 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 raised its holdings in Thermo Fisher Scientific by 19.7% in 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 acquiring an additional 1,294,453 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after acquiring an additional 604,895 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Thermo Fisher Scientific in the third quarter valued at approximately $254,412,000. Finally, Point72 Asset Management L.P. raised its holdings in Thermo Fisher Scientific by 743.6% in the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after acquiring an additional 296,646 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO traded down $0.90 on Tuesday, reaching $529.05. 427,657 shares of the company were exchanged, compared to its average volume of 1,511,328. 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 1-year low of $487.06 and a 1-year high of $627.88. The firm has a market cap of $202.36 billion, a price-to-earnings ratio of 33.23, a price-to-earnings-growth ratio of 3.50 and a beta of 0.77. The company has a 50-day moving average of $566.33 and a 200-day moving average of $577.69.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 business 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 company posted $5.69 EPS. The business’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock buyback 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 reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis 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%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $552.86, for a total value of $4,975,740.00. Following the completion of the sale, the chief executive officer now owns 14,608 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on TMO shares. Wells Fargo & Company reduced their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Morgan Stanley boosted their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Evercore ISI reduced their price objective on shares of 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. 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 report on Thursday, October 24th. Finally, Robert W. Baird reduced their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Four 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. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $649.33.

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.