MidWestOne Financial Group Inc. Trims Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

MidWestOne Financial Group Inc. lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 4,605 shares of the medical research company’s stock after selling 26 shares during the period. MidWestOne Financial Group Inc.’s holdings in Thermo Fisher Scientific were worth $2,849,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Nisa Investment Advisors LLC raised its stake in Thermo Fisher Scientific by 6.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock valued at $87,093,000 after purchasing an additional 8,180 shares during the period. Summit Trail Advisors LLC boosted its position in shares of Thermo Fisher Scientific by 29.2% during the third quarter. Summit Trail Advisors LLC now owns 5,378 shares of the medical research company’s stock worth $3,329,000 after acquiring an additional 1,214 shares during the last quarter. Simplify Asset Management Inc. increased its holdings in Thermo Fisher Scientific by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company’s stock valued at $8,518,000 after acquiring an additional 5,546 shares during the last quarter. Simmons Bank lifted its position in shares of Thermo Fisher Scientific by 60.2% in the third quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock worth $5,087,000 after buying an additional 3,090 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Thermo Fisher Scientific by 0.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,163,487 shares of the medical research company’s stock valued at $1,338,268,000 after buying an additional 19,536 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $537.44 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 firm has a market cap of $205.57 billion, a PE ratio of 33.70, a P/E/G ratio of 3.56 and a beta of 0.77. The stock has a fifty day moving average price of $556.46 and a 200-day moving average price of $575.08. Thermo Fisher Scientific Inc. has a 12 month low of $491.33 and a 12 month high of $627.88.

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 (EPS) for the quarter, beating 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 business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the prior year, the business posted $5.69 EPS. Thermo Fisher Scientific’s revenue for the quarter was up .2% compared to the same quarter last year. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock repurchase program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on TMO. Barclays cut their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Sanford C. Bernstein dropped their price target on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Robert W. Baird decreased their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price for the company. Finally, Stephens began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the sale, the chief executive officer now owns 111,192 shares in the company, valued at $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock valued at $25,954,465 over the last quarter. 0.34% of the stock is currently owned by company 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.