Flagship Harbor Advisors LLC Cuts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Flagship Harbor Advisors LLC decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.9% during the 4th quarter, Holdings Channel reports. The firm owned 5,164 shares of the medical research company’s stock after selling 567 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Thermo Fisher Scientific were worth $2,686,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of TMO. AQR Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 18.1% in the 2nd quarter. AQR Capital Management LLC now owns 98,152 shares of the medical research company’s stock valued at $54,278,000 after purchasing an additional 15,009 shares in the last quarter. Daymark Wealth Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 24.5% during the 2nd quarter. Daymark Wealth Partners LLC now owns 619 shares of the medical research company’s stock worth $342,000 after purchasing an additional 122 shares during the last quarter. Sepio Capital LP increased its holdings in shares of Thermo Fisher Scientific by 7.6% in the second quarter. Sepio Capital LP now owns 3,980 shares of the medical research company’s stock valued at $2,201,000 after purchasing an additional 282 shares during the last quarter. Goodman Advisory Group LLC grew its holdings in Thermo Fisher Scientific by 40.9% in the 2nd quarter. Goodman Advisory Group LLC now owns 465 shares of the medical research company’s stock valued at $257,000 after buying an additional 135 shares in the last quarter. Finally, Kathmere Capital Management LLC purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth $375,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus cut 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. TD Cowen upped their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Barclays cut their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Scotiabank initiated coverage on Thermo Fisher Scientific in a research report on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 target price for the company. Finally, Morgan Stanley reduced their price target on shares of Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a research report on Monday, January 13th. Four 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $648.95.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. The trade was a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders sold a total of 44,850 shares of company stock valued at $24,666,097 in the last ninety days. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $575.21 on Friday. The company has a fifty day moving average of $533.60 and a two-hundred day moving average of $569.32. 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. The company has a market capitalization of $220.02 billion, a PE ratio of 36.06, a P/E/G ratio of 3.82 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping 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 firm’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.69 earnings per share. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

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

Thermo Fisher Scientific declared that its board has initiated a stock buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its stock is undervalued.

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.