Traveka Wealth LLC Cuts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Traveka Wealth LLC trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.5% during the fourth quarter, HoldingsChannel reports. The firm owned 572 shares of the medical research company’s stock after selling 53 shares during the quarter. Traveka Wealth LLC’s holdings in Thermo Fisher Scientific were worth $298,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in TMO. BCS Wealth Management bought a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at approximately $218,000. Granite Bay Wealth Management LLC purchased a new position in Thermo Fisher Scientific in the fourth quarter valued at approximately $4,758,000. Benson Investment Management Company Inc. increased its position in Thermo Fisher Scientific by 0.7% in the fourth quarter. Benson Investment Management Company Inc. now owns 8,149 shares of the medical research company’s stock worth $4,239,000 after buying an additional 53 shares during the last quarter. Signet Financial Management LLC purchased a new position in shares of Thermo Fisher Scientific during the 4th quarter valued at $218,000. Finally, Courier Capital LLC grew its stake in shares of Thermo Fisher Scientific by 148.8% during the 4th quarter. Courier Capital LLC now owns 20,914 shares of the medical research company’s stock worth $10,880,000 after acquiring an additional 12,509 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have commented on TMO shares. Royal Bank of Canada dropped their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. TD Cowen raised their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Stifel Nicolaus lowered their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Robert W. Baird reduced their price target on 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. Finally, Bank of America cut their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $648.95.

Thermo Fisher Scientific Trading Up 2.5 %

TMO opened at $555.91 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 one year low of $493.30 and a one year high of $627.88. The firm 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 business has a 50 day simple moving average of $529.92 and a two-hundred day simple moving average of $568.10.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the prior year, the firm earned $5.69 earnings per share. Thermo Fisher Scientific’s revenue was up .2% on a year-over-year basis. Analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business 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 dividend on an annualized basis and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock buyback program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,150 shares of company stock valued at $25,954,465 in the last quarter. 0.34% of the stock is owned by insiders.

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.