Confluence Investment Management LLC Sells 1,046 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Confluence Investment Management LLC decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 83,547 shares of the medical research company’s stock after selling 1,046 shares during the period. Confluence Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $43,464,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of TMO. Geode Capital Management LLC increased its holdings in Thermo Fisher Scientific by 1.7% in the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after buying an additional 127,564 shares during the period. Coldstream Capital Management Inc. boosted its position in shares of Thermo Fisher Scientific by 11.4% during the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock valued at $5,972,000 after acquiring an additional 995 shares in the last quarter. Greenwood Gearhart Inc. raised its position in Thermo Fisher Scientific by 9.8% in the third quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock worth $12,730,000 after purchasing an additional 1,837 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Thermo Fisher Scientific by 6.2% during the third 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 in the last quarter. Finally, Summit Trail Advisors LLC grew its stake in shares of Thermo Fisher Scientific by 29.2% in the 3rd quarter. Summit Trail Advisors LLC now owns 5,378 shares of the medical research company’s stock valued at $3,329,000 after purchasing an additional 1,214 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Ratings Changes

TMO has been the topic of a number of analyst reports. Bank of America lowered their price target on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating on the stock in a research report on Friday, December 13th. Redburn Atlantic started coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price for the company. Stifel Nicolaus decreased their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. 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 research note on Wednesday, October 23rd. Finally, Robert W. Baird dropped their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Insider Transactions at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction 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 sale, the senior vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the transaction, the chief executive officer now directly owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock valued at $25,954,465 over the last 90 days. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Trading Up 0.4 %

Shares of NYSE:TMO traded up $1.93 during midday trading on Thursday, hitting $522.16. The company had a trading volume of 355,830 shares, compared to its average volume of 1,544,040. The firm has a fifty day simple moving average of $531.86 and a 200 day simple moving average of $569.25. The stock has a market cap of $199.73 billion, a price-to-earnings ratio of 32.74, a PEG ratio of 3.54 and a beta of 0.77. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month 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 EPS for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations 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 period in the prior year, the business posted $5.69 EPS. On average, analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. Thermo Fisher Scientific’s payout ratio is 9.78%.

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