Prudent Man Advisors LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 1.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,528 shares of the medical research company’s stock after selling 63 shares during the period. Thermo Fisher Scientific accounts for approximately 0.7% of Prudent Man Advisors LLC’s holdings, making the stock its 21st biggest holding. Prudent Man Advisors LLC’s holdings in Thermo Fisher Scientific were worth $1,841,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of TMO. Arrowstreet Capital Limited Partnership increased its stake in shares of Thermo Fisher Scientific by 3.7% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 681,679 shares of the medical research company’s stock valued at $392,899,000 after acquiring an additional 24,376 shares during the last quarter. American Trust lifted its holdings in shares of Thermo Fisher Scientific by 13.2% during the 1st quarter. American Trust now owns 6,743 shares of the medical research company’s stock valued at $3,886,000 after purchasing an additional 784 shares in the last quarter. Sterling Investment Management LLC bought a new stake in shares of Thermo Fisher Scientific during the second quarter worth $1,074,000. Alta Capital Management LLC grew its holdings in shares of Thermo Fisher Scientific by 5.1% during the second quarter. Alta Capital Management LLC now owns 88,286 shares of the medical research company’s stock worth $46,064,000 after buying an additional 4,307 shares in the last quarter. Finally, First Manhattan CO. LLC. increased its stake in Thermo Fisher Scientific by 11.2% in the 1st quarter. First Manhattan CO. LLC. now owns 724,844 shares of the medical research company’s stock valued at $417,779,000 after buying an additional 72,792 shares during the last quarter. Institutional investors and hedge funds own 87.06% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have commented on TMO shares. Wells Fargo & Company upgraded shares of Thermo Fisher Scientific from an “underweight” rating to an “equal weight” rating and set a $475.00 price target for the company in a research note on Wednesday, October 25th. Citigroup lowered their price target on shares of Thermo Fisher Scientific from $625.00 to $530.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. Royal Bank of Canada decreased their price target on Thermo Fisher Scientific from $657.00 to $579.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. Stifel Nicolaus decreased their target price on Thermo Fisher Scientific from $660.00 to $530.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. Finally, Sanford C. Bernstein started coverage on shares of Thermo Fisher Scientific in a report on Thursday, September 28th. They issued an “outperform” rating and a $603.00 target price for the company. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $593.94.
Insiders Place Their Bets
In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 30th. The stock was sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the completion of the sale, the executive vice president now directly owns 17,556 shares of the company’s stock, valued at approximately $9,792,210.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Gianluca Pettiti sold 3,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the sale, the executive vice president now directly owns 17,556 shares in the company, valued at $9,792,210.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $456.15, for a total transaction of $4,561,500.00. Following the completion of the transaction, the chief executive officer now directly owns 131,175 shares in the company, valued at $59,835,476.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 23,000 shares of company stock worth $10,778,910. Corporate insiders own 0.32% of the company’s stock.
Thermo Fisher Scientific Trading Up 0.9 %
Shares of TMO stock traded up $4.35 on Monday, hitting $470.77. The company had a trading volume of 147,237 shares, compared to its average volume of 1,562,308. The stock’s 50-day moving average is $479.00 and its two-hundred day moving average is $514.14. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.25 and a current ratio of 1.63. The firm has a market cap of $181.89 billion, a P/E ratio of 30.56, a P/E/G ratio of 2.87 and a beta of 0.81. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $609.85.
Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $5.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.61 by $0.08. Thermo Fisher Scientific had a net margin of 13.68% and a return on equity of 18.88%. The firm had revenue of $10.57 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same quarter in the previous year, the company earned $5.08 EPS. The company’s revenue for the quarter was down 1.0% on a year-over-year basis. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.52 earnings per share for the current fiscal year.
Thermo Fisher Scientific Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 15th will be given a dividend of $0.35 per share. The ex-dividend date is Thursday, December 14th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.30%. Thermo Fisher Scientific’s payout ratio is presently 9.17%.
Thermo Fisher Scientific announced that its board has initiated a stock repurchase plan on Tuesday, November 14th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 2.2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership 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 United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.
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