Atomi Financial Group Inc. Sells 210 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Atomi Financial Group Inc. trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 2,619 shares of the medical research company’s stock after selling 210 shares during the quarter. 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 also recently made changes to their positions in the stock. State Street Corp raised its position in Thermo Fisher Scientific by 0.8% in the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after purchasing an additional 124,996 shares during the last quarter. FMR LLC boosted 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 during the last quarter. Geode Capital Management LLC raised its holdings in Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after purchasing an additional 127,564 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Thermo Fisher Scientific by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after purchasing an additional 262,062 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in Thermo Fisher Scientific by 2.6% during the third quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock worth $1,630,896,000 after buying an additional 65,586 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Up 2.4 %

NYSE:TMO opened at $572.85 on Wednesday. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The firm has a 50 day moving average of $530.22 and a 200 day moving average of $568.73. 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 stock has a market capitalization of $219.11 billion, a price-to-earnings ratio of 35.92, a PEG ratio of 3.71 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations 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 firm posted $5.69 EPS. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

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

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding 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 typically an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several brokerages have issued reports on TMO. TD Cowen increased their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Bernstein Bank boosted 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. Redburn Atlantic started coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price target for the company. Barclays cut 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 report on Wednesday, October 23rd. Finally, Scotiabank assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, December 23rd. They set a “sector perform” rating and a $605.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were 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 of the company’s stock, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 value 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 approximately $9,333,946.08. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,150 shares of company stock worth $25,954,465 in the last ninety days. Company insiders own 0.34% of the company’s stock.

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.