Taurus Asset Management LLC Sells 159 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Taurus Asset Management LLC lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,819 shares of the medical research company’s stock after selling 159 shares during the period. Thermo Fisher Scientific comprises 3.1% of Taurus Asset Management LLC’s portfolio, making the stock its 9th largest holding. Taurus Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $32,054,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Lafayette Investments Inc. increased its stake in Thermo Fisher Scientific by 2.1% in the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after acquiring an additional 17 shares during the period. IFG Advisors LLC grew its stake in shares of Thermo Fisher Scientific by 3.3% in the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 17 shares during the period. Patrick M Sweeney & Associates Inc. lifted its position in shares of Thermo Fisher Scientific by 1.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock worth $570,000 after buying an additional 18 shares during the period. Drive Wealth Management LLC grew its position in Thermo Fisher Scientific by 0.9% in the second quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock valued at $1,175,000 after acquiring an additional 18 shares during the period. Finally, Quent Capital LLC raised its stake in Thermo Fisher Scientific by 1.0% during the second quarter. Quent Capital LLC now owns 1,886 shares of the medical research company’s stock worth $1,043,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TMO. Bernstein Bank upped their target price on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Wells Fargo & Company dropped their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada decreased their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Redburn Atlantic began coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective on the stock. Finally, Stifel Nicolaus lowered their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Four investment 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’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $552.86, for a total value of $4,975,740.00. Following the transaction, the chief executive officer now directly owns 14,608 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s 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 sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,150 shares of company stock worth $20,651,865. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $513.08 on Monday. 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 stock has a market cap of $196.25 billion, a P/E ratio of 32.17, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. The stock’s 50-day moving average price is $586.43 and its two-hundred day moving average price is $582.39. Thermo Fisher Scientific Inc. has a 1 year low of $464.17 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.69 EPS. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

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 paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.78%.

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

About Thermo Fisher Scientific

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.