Sector Gamma AS Sells 7,056 Shares of Thermo Fisher Scientific Inc. $TMO

Sector Gamma AS lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 27.7% during the third quarter, HoldingsChannel reports. The fund owned 18,444 shares of the medical research company’s stock after selling 7,056 shares during the quarter. Thermo Fisher Scientific makes up about 2.2% of Sector Gamma AS’s portfolio, making the stock its 15th biggest holding. Sector Gamma AS’s holdings in Thermo Fisher Scientific were worth $8,946,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Frazier Financial Advisors LLC raised its position in shares of Thermo Fisher Scientific by 30.5% during the third quarter. Frazier Financial Advisors LLC now owns 107 shares of the medical research company’s stock valued at $52,000 after buying an additional 25 shares during the last quarter. Sagespring Wealth Partners LLC lifted its position in shares of Thermo Fisher Scientific by 50.6% in the 3rd quarter. Sagespring Wealth Partners LLC now owns 3,709 shares of the medical research company’s stock worth $1,799,000 after acquiring an additional 1,246 shares during the period. Biltmore Family Office LLC raised its stake in shares of Thermo Fisher Scientific by 4.0% in the third quarter. Biltmore Family Office LLC now owns 1,581 shares of the medical research company’s stock valued at $767,000 after purchasing an additional 61 shares in the last quarter. BAM Wealth Management LLC bought a new stake in Thermo Fisher Scientific in the 3rd quarter valued at $901,000. Finally, Trek Financial LLC increased its stake in Thermo Fisher Scientific by 40.8% in the third quarter. Trek Financial LLC now owns 3,091 shares of the medical research company’s stock valued at $1,499,000 after acquiring an additional 896 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 2.2%

Shares of NYSE TMO opened at $625.42 on Friday. The company’s 50 day simple moving average is $590.88 and its 200 day simple moving average is $531.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. Thermo Fisher Scientific Inc. has a fifty-two week low of $385.46 and a fifty-two week high of $643.99. The firm has a market capitalization of $234.98 billion, a P/E ratio of 36.13, a P/E/G ratio of 4.12 and a beta of 0.91.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, beating the consensus estimate of $5.50 by $0.29. The firm had revenue of $11.12 billion during the quarter, compared to the consensus estimate of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.28 earnings per share. On average, analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were issued a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio is 9.94%.

Thermo Fisher Scientific announced that its board has initiated a share repurchase plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 2.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Hsbc Global Res upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target on the stock in a research report on Sunday, December 7th. Wells Fargo & Company lifted their target price on shares of Thermo Fisher Scientific from $635.00 to $675.00 and gave the company an “overweight” rating in a research note on Monday, December 15th. Finally, UBS Group increased their price target on Thermo Fisher Scientific from $500.00 to $590.00 and gave the stock a “neutral” rating in a research report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $625.47.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 7,250 shares of Thermo Fisher Scientific stock in a transaction dated Monday, October 27th. The stock was sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the transaction, the chief executive officer owned 113,762 shares in the company, valued at $64,400,668.20. The trade was a 5.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Lisa P. Britt sold 1,058 shares of the stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $588.26, for a total value of $622,379.08. Following the sale, the vice president directly owned 13,087 shares of the company’s stock, valued at approximately $7,698,558.62. The trade was a 7.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 131,767 shares of company stock valued at $76,467,793 over the last 90 days. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.