Confluence Investment Management LLC Reduces Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Confluence Investment Management LLC trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 84,593 shares of the medical research company’s stock after selling 1,412 shares during the period. Confluence Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $52,327,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TMO. BDF Gestion purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $6,368,000. Nisa Investment Advisors LLC lifted its holdings in Thermo Fisher Scientific by 6.2% in the third quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock valued at $87,093,000 after acquiring an additional 8,180 shares during the period. Lord Abbett & CO. LLC grew its stake in shares of Thermo Fisher Scientific by 1.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock worth $45,478,000 after purchasing an additional 1,480 shares during the period. Seven Eight Capital LP purchased a new position in shares of Thermo Fisher Scientific during the 1st quarter valued at approximately $1,161,000. Finally, ORG Partners LLC boosted its holdings in Thermo Fisher Scientific by 216.6% during the second quarter. ORG Partners LLC now owns 1,640 shares of the medical research company’s stock worth $890,000 after buying an additional 1,122 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Marc N. Casper sold 5,850 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $557.89, for a total transaction of $3,263,656.50. Following the completion of the transaction, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,611,804.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 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 $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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,150 shares of company stock worth $10,094,925 over the last three months. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.7 %

NYSE TMO opened at $555.89 on Friday. Thermo Fisher Scientific Inc. has a 12 month low of $437.26 and a 12 month high of $627.88. The stock has a market capitalization of $212.63 billion, a P/E ratio of 34.85, a PEG ratio of 3.70 and a beta of 0.79. The firm’s 50-day moving average is $596.33 and its two-hundred day moving average is $583.80. 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 posted 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 net margin of 14.48% and a return on equity of 17.49%. The firm had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter last year, the firm earned $5.69 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Analysts Set New Price Targets

Several research firms have recently issued reports on TMO. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Stifel Nicolaus lowered their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company cut their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Robert W. Baird dropped their price target 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. Finally, Evercore ISI reduced their price objective 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. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

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.