Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by AdvisorNet Financial Inc

AdvisorNet Financial Inc decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,788 shares of the medical research company’s stock after selling 1,182 shares during the quarter. AdvisorNet Financial Inc’s holdings in Thermo Fisher Scientific were worth $5,092,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Legacy Investment Solutions LLC acquired a new position in Thermo Fisher Scientific during the 3rd quarter worth about $26,000. Peterson Financial Group Inc. purchased a new position in shares of Thermo Fisher Scientific in the third quarter valued at approximately $27,000. RPg Family Wealth Advisory LLC acquired a new position in shares of Thermo Fisher Scientific in the third quarter valued at approximately $50,000. HWG Holdings LP acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth approximately $50,000. Finally, Teachers Insurance & Annuity Association of America acquired a new position in shares of Thermo Fisher Scientific in the third quarter worth $65,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TMO. Royal Bank of Canada decreased their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bernstein Bank boosted their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Bank of America reduced their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a report on Friday, December 13th. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective on the stock. Finally, Robert W. Baird decreased their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus target price of $648.95.

Insider Activity at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction 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 a total of 47,150 shares of company stock worth $25,954,465 in the last three months. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $555.91 on Tuesday. The firm’s fifty day simple moving average is $529.92 and its 200-day simple moving average is $568.10. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88. The stock has a market capitalization of $212.64 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 3.54 and a beta of 0.76. 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 (NYSE:TMO) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $5.69 earnings per share. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

Thermo Fisher Scientific announced that its board has approved a share repurchase plan on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its shares are 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.