Valley Wealth Managers Inc. Sells 213 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Valley Wealth Managers Inc. lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 31.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 454 shares of the medical research company’s stock after selling 213 shares during the quarter. Valley Wealth Managers Inc.’s holdings in Thermo Fisher Scientific were worth $281,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC raised its position in shares of Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares in the last quarter. New Millennium Group LLC bought a new stake in Thermo Fisher Scientific during the second quarter worth $29,000. Stephens Consulting LLC boosted its holdings in shares of Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Thermo Fisher Scientific during the 1st quarter worth $32,000. Finally, Bank & Trust Co acquired a new stake in Thermo Fisher Scientific in the second quarter valued at about $33,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Down 3.7 %

Thermo Fisher Scientific stock opened at $513.08 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $464.17 and a 12-month high of $627.88. 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 company has a market capitalization of $196.25 billion, a PE ratio of 32.17, a PEG ratio of 3.58 and a beta of 0.79. The firm’s fifty day moving average is $586.43 and its 200 day moving average is $582.24.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly 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. 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 for the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the prior year, the business earned $5.69 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has approved a share buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to repurchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a dividend of $0.39 per share. 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 payout ratio is presently 9.78%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction 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 transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. The trade was a 1.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Redburn Atlantic began coverage on shares of 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. Bernstein Bank boosted 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 research note on Tuesday, October 22nd. 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 research note on Thursday, October 24th. Barclays lowered their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, Evercore ISI dropped their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

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.