Wallace Advisory Group LLC Has $1.53 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Wallace Advisory Group LLC decreased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 2,942 shares of the medical research company’s stock after selling 42 shares during the period. Thermo Fisher Scientific makes up 1.1% of Wallace Advisory Group LLC’s portfolio, making the stock its 19th biggest position. Wallace Advisory Group LLC’s holdings in Thermo Fisher Scientific were worth $1,531,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in TMO. Legacy Investment Solutions LLC acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth about $26,000. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth about $27,000. HWG Holdings LP acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth about $50,000. RPg Family Wealth Advisory LLC acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth about $50,000. Finally, Teachers Insurance & Annuity Association of America acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth about $65,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on TMO. Royal Bank of Canada dropped their target price on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective for the company. TD Cowen raised their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Finally, StockNews.com cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Monday, January 6th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $648.95.

Insider Buying and Selling at Thermo Fisher Scientific

In other 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 sale, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Boxer sold 2,000 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 transaction of $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Stock Up 2.5 %

Thermo Fisher Scientific stock opened at $555.91 on Tuesday. The company’s 50 day simple moving average is $529.92 and its 200 day simple moving average is $568.10. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The firm has a market capitalization of $212.64 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 3.54 and a beta of 0.76. 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 released its quarterly earnings data 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. 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 last year, the firm earned $5.69 EPS. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share buyback 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 an indication that the company’s board believes its stock is undervalued.

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.