Paloma Partners Management Co Reduces Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Paloma Partners Management Co lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 60.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,300 shares of the medical research company’s stock after selling 1,984 shares during the period. Paloma Partners Management Co’s holdings in Thermo Fisher Scientific were worth $804,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. CWM LLC boosted its stake in Thermo Fisher Scientific by 9.5% during the second quarter. CWM LLC now owns 18,358 shares of the medical research company’s stock worth $10,152,000 after buying an additional 1,590 shares during the period. Howard Capital Management Group LLC grew its holdings in Thermo Fisher Scientific by 1.2% during the 2nd quarter. Howard Capital Management Group LLC now owns 54,289 shares of the medical research company’s stock valued at $30,022,000 after purchasing an additional 632 shares during the last quarter. RDA Financial Network lifted its stake in Thermo Fisher Scientific by 28.0% in the second quarter. RDA Financial Network now owns 4,089 shares of the medical research company’s stock worth $2,261,000 after purchasing an additional 894 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its position in shares of Thermo Fisher Scientific by 20.6% during the second quarter. Linden Thomas Advisory Services LLC now owns 3,476 shares of the medical research company’s stock valued at $1,922,000 after buying an additional 593 shares during the period. Finally, NBC Securities Inc. raised its holdings in shares of Thermo Fisher Scientific by 27.3% in the second quarter. NBC Securities Inc. now owns 2,389 shares of the medical research company’s stock worth $1,321,000 after buying an additional 513 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the completion of the sale, the chief executive officer now owns 14,608 shares of the company’s stock, valued at $8,076,178.88. The trade was a 38.12 % decrease in their ownership of the stock. 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 the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction 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. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,150 shares of company stock worth $20,651,865 in the last 90 days. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $529.95 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The company has a market cap of $202.71 billion, a PE ratio of 33.23, a PEG ratio of 3.50 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 12-month low of $487.06 and a 12-month high of $627.88. The business’s fifty day simple moving average is $566.33 and its 200-day simple moving average is $577.69.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly 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 return on equity of 17.49% and a net margin of 14.48%. The company’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company earned $5.69 earnings per share. Analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has approved a share repurchase 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 leadership believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

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 given a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on TMO shares. Barclays cut their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Sanford C. Bernstein reduced their price target on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Evercore ISI dropped their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird lowered their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.