Thermo Fisher Scientific Inc. (NYSE:TMO) CEO Marc N. Casper Sells 10,000 Shares of Stock

Thermo Fisher Scientific Inc. (NYSE:TMO) CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 111,192 shares in the company, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Thermo Fisher Scientific Stock Down 1.0 %

Shares of NYSE:TMO opened at $528.87 on Thursday. The business’s 50 day moving average is $561.75 and its 200 day moving average is $576.46. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The stock has a market cap of $202.29 billion, a P/E ratio of 33.16, a price-to-earnings-growth ratio of 3.59 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52-week low of $487.06 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates 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 return on equity of 17.49% and a net margin of 14.48%. Thermo Fisher Scientific’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.69 earnings per share. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

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 shares. This buyback authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

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

Institutional Trading of Thermo Fisher Scientific

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Lafayette Investments Inc. lifted its holdings in shares of Thermo Fisher Scientific by 2.1% during the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after purchasing an additional 17 shares during the last quarter. IFG Advisors LLC lifted its holdings in shares of Thermo Fisher Scientific by 3.3% during 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 last quarter. Patrick M Sweeney & Associates Inc. lifted its holdings 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 valued at $570,000 after purchasing an additional 18 shares during the last quarter. Drive Wealth Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 0.9% during the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock valued at $1,175,000 after purchasing an additional 18 shares during the last quarter. Finally, Prentice Wealth Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 2.1% during the 2nd quarter. Prentice Wealth Management LLC now owns 913 shares of the medical research company’s stock valued at $505,000 after purchasing an additional 19 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Evercore ISI reduced their price objective on 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. Bank of America boosted their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Royal Bank of Canada reduced their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. TD Cowen boosted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company cut their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $649.33.

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.