Abacus Wealth Partners LLC Sells 45 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Abacus Wealth Partners LLC reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 417 shares of the medical research company’s stock after selling 45 shares during the quarter. Abacus Wealth Partners LLC’s holdings in Thermo Fisher Scientific were worth $217,000 as of its most recent SEC filing.

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

Analyst Ratings Changes

Several analysts have issued reports on the company. Scotiabank assumed coverage on Thermo Fisher Scientific in a report on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 target price for the company. Sanford C. Bernstein upgraded shares of Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price objective for the company in a research report on Friday, January 10th. Bernstein Bank increased their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Bank of America reduced their price target on shares of 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, Morgan Stanley cut their target price 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. Four equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $648.95.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $559.72 on Tuesday. The stock’s 50-day moving average is $529.96 and its two-hundred day moving average is $568.56. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The company has a market cap of $214.09 billion, a price-to-earnings ratio of 35.09, a price-to-earnings-growth ratio of 3.71 and a beta of 0.76. 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 issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating 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 firm had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter last year, the company earned $5.69 earnings per share. The firm’s revenue was up .2% compared to the same quarter last year. Analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Thermo Fisher Scientific announced that its board has authorized 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 repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now owns 111,192 shares in the company, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock valued at $25,954,465 in the last ninety days. Insiders own 0.34% of the company’s stock.

About Thermo Fisher Scientific

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.