First Commonwealth Financial Corp PA Has $969,000 Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

First Commonwealth Financial Corp PA trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 31.2% during the third quarter, Holdings Channel reports. The institutional investor owned 1,567 shares of the medical research company’s stock after selling 710 shares during the quarter. First Commonwealth Financial Corp PA’s holdings in Thermo Fisher Scientific were worth $969,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TMO. Peterson Financial Group Inc. purchased a new stake in shares of Thermo Fisher Scientific in the third quarter worth approximately $27,000. Signature Resources Capital Management LLC lifted its stake in Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares in the last quarter. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific during the 2nd quarter worth $29,000. Stephens Consulting LLC raised its holdings in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares during the last quarter. Finally, Bank & Trust Co bought a new position in shares of Thermo Fisher Scientific during the second quarter valued at about $33,000. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the sale, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares in the company, 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 sold a total of 37,150 shares of company stock worth $20,651,865 over the last three months. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO traded up $10.58 during mid-day trading on Wednesday, reaching $523.56. 240,873 shares of the company were exchanged, compared to its average volume of 1,497,519. The stock has a market capitalization of $200.26 billion, a PE ratio of 32.16, a PEG ratio of 3.40 and a beta of 0.79. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 52 week low of $480.57 and a 52 week high of $627.88. The company’s 50 day moving average price is $571.75 and its 200 day moving average price is $579.18.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. The firm 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 company’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the company earned $5.69 EPS. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share repurchase plan on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is presently 9.78%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Sanford C. Bernstein decreased their price objective on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Robert W. Baird cut their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Bank of America raised their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Wells Fargo & Company decreased their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Finally, Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price for the company. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $649.33.

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.