Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Iron Gate Global Advisors LLC

Iron Gate Global Advisors LLC reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 508 shares of the medical research company’s stock after selling 70 shares during the period. Iron Gate Global Advisors LLC’s holdings in Thermo Fisher Scientific were worth $314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC increased its holdings in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares during the period. Peterson Financial Group Inc. purchased a new stake in shares of Thermo Fisher Scientific in the third quarter worth about $27,000. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific in the second quarter worth approximately $29,000. Stephens Consulting LLC raised its position in shares of Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the last quarter. Finally, Triad Wealth Partners LLC bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at approximately $43,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Up 0.1 %

TMO opened at $529.95 on Tuesday. The business has a fifty day simple moving average of $566.33 and a 200-day simple moving average of $577.69. 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 firm has a market cap of $202.71 billion, a P/E ratio of 33.23, a P/E/G ratio of 3.50 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52 week low of $487.06 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted 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. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period last year, the firm earned $5.69 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Thermo Fisher Scientific declared that its Board of Directors 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 reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on TMO shares. Bank of America upped their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 price objective for the company. Morgan Stanley lifted their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Stephens started coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Finally, TD Cowen upped their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Four investment 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Insider Activity

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the sale, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,175,513.68. The trade was a 7.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at $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. In the last three months, insiders have sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is currently owned by insiders.

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.