Accretive Wealth Partners LLC Trims Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Accretive Wealth Partners LLC lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.6% in the 3rd quarter, Holdings Channel reports. The firm owned 597 shares of the medical research company’s stock after selling 29 shares during the period. Accretive Wealth Partners LLC’s holdings in Thermo Fisher Scientific were worth $369,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC grew its stake in shares of Thermo Fisher Scientific by 76,051.4% in the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock worth $876,152,000 after acquiring an additional 1,414,556 shares in the last quarter. Swedbank AB purchased a new stake in shares of Thermo Fisher Scientific during the first quarter worth approximately $705,636,000. Ameriprise Financial Inc. lifted its stake in Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after acquiring an additional 604,895 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at approximately $254,412,000. Finally, Point72 Asset Management L.P. raised its holdings in shares of Thermo Fisher Scientific by 743.6% in the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after purchasing an additional 296,646 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. Stephens started coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price for the company. Morgan Stanley increased their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Bank of America upped their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Barclays cut their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Four 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 presently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s 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 $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 9,000 shares of the 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 sale, the chief executive officer now owns 14,608 shares in the company, valued at approximately $8,076,178.88. This trade represents a 38.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Up 0.5 %

Shares of Thermo Fisher Scientific stock opened at $515.26 on Friday. Thermo Fisher Scientific Inc. has a one year low of $480.57 and a one year high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The firm has a fifty day moving average of $577.66 and a two-hundred day moving average of $580.52. The company has a market cap of $197.09 billion, a P/E ratio of 32.30, a PEG ratio of 3.37 and a beta of 0.79.

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

Thermo Fisher Scientific Announces Dividend

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

Thermo Fisher Scientific announced that its board has approved a share repurchase plan 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 plans are typically an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Company 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.