Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Reduced by Atomi Financial Group Inc.

Atomi Financial Group Inc. lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,619 shares of the medical research company’s stock after selling 210 shares during the period. Atomi Financial Group Inc.’s holdings in Thermo Fisher Scientific were worth $1,363,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter valued at $26,000. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the third quarter worth $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at $50,000. Decker Retirement Planning Inc. purchased a new position in Thermo Fisher Scientific in the 4th quarter worth about $43,000. Finally, HWG Holdings LP acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth about $50,000. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Performance

TMO stock opened at $572.85 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The company has a market cap of $219.11 billion, a P/E ratio of 35.92, a price-to-earnings-growth ratio of 3.71 and a beta of 0.76. The business’s fifty day moving average is $530.22 and its 200-day moving average is $568.73. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve 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, topping the consensus estimate 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 company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the business posted $5.69 earnings per share. The business’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase program on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to buy up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.27%. Thermo Fisher Scientific’s payout ratio is 9.78%.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $9,333,946.08. The trade was a 1.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the transaction, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock worth $25,954,465 over the last quarter. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on TMO. Wells Fargo & Company cut their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Barclays dropped their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Robert W. Baird decreased 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 report on Thursday, October 24th. Bank of America dropped their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Finally, Stephens initiated coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $648.95.

Thermo Fisher Scientific 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.