Wrapmanager Inc. Decreases Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Wrapmanager Inc. cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 17.0% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 2,781 shares of the medical research company’s stock after selling 571 shares during the period. Wrapmanager Inc.’s holdings in Thermo Fisher Scientific were worth $1,720,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Edgestream Partners L.P. purchased a new position in shares of Thermo Fisher Scientific in the first quarter worth $1,661,000. Hillsdale Investment Management Inc. lifted its holdings in shares of Thermo Fisher Scientific by 23.0% in the first quarter. Hillsdale Investment Management Inc. now owns 321 shares of the medical research company’s stock worth $187,000 after buying an additional 60 shares in the last quarter. Seven Eight Capital LP purchased a new position in shares of Thermo Fisher Scientific in the first quarter worth $1,161,000. Lake Street Advisors Group LLC raised its stake in Thermo Fisher Scientific by 105.1% during the first quarter. Lake Street Advisors Group LLC now owns 4,042 shares of the medical research company’s stock valued at $2,351,000 after purchasing an additional 2,071 shares in the last quarter. Finally, Ossiam raised its stake in Thermo Fisher Scientific by 13.1% during the first quarter. Ossiam now owns 10,422 shares of the medical research company’s stock valued at $6,057,000 after purchasing an additional 1,205 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TMO. Wells Fargo & Company reduced their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Sanford C. Bernstein lowered their price target on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. TD Cowen increased their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Evercore ISI reduced their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Robert W. Baird dropped their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $501.50 on Tuesday. 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 fifty-two week low of $465.90 and a fifty-two week high of $627.88. The stock’s 50-day moving average is $584.05 and its two-hundred day moving average is $581.90. The firm has a market cap of $191.82 billion, a P/E ratio of 31.44, a PEG ratio of 3.39 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last announced 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 return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the prior year, the company earned $5.69 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts predict that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.31%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding 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 management believes its shares are undervalued.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the completion of the transaction, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at $8,076,178.88. This represents a 38.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock worth $20,651,865 in the last three months. 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.