Miracle Mile Advisors LLC Has $2.87 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Miracle Mile Advisors LLC trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,510 shares of the medical research company’s stock after selling 405 shares during the period. Miracle Mile Advisors LLC’s holdings in Thermo Fisher Scientific were worth $2,867,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. WINTON GROUP Ltd bought a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $332,000. Fairfield Financial Advisors LTD acquired a new position in Thermo Fisher Scientific in the second quarter valued at $93,000. Waycross Partners LLC grew its holdings in Thermo Fisher Scientific by 12.6% during the 2nd quarter. Waycross Partners LLC now owns 25,014 shares of the medical research company’s stock worth $13,833,000 after acquiring an additional 2,791 shares during the period. Wealth Dimensions Group Ltd. lifted its stake in shares of Thermo Fisher Scientific by 8.6% in the 2nd quarter. Wealth Dimensions Group Ltd. now owns 402 shares of the medical research company’s stock valued at $222,000 after purchasing an additional 32 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Thermo Fisher Scientific by 1.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,740,482 shares of the medical research company’s stock valued at $962,482,000 after purchasing an additional 20,075 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $555.91 on Tuesday. The stock has a 50 day moving average of $529.92 and a 200 day moving average of $568.10. 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. The company has a market capitalization of $212.64 billion, a price-to-earnings ratio of 34.85, a PEG ratio of 3.54 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last issued 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. The company had revenue of $10.60 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.69 EPS. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a stock buyback plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed 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. This represents a $1.56 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 111,192 shares of the company’s stock, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock valued at $25,954,465 over the last ninety days. 0.34% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Stephens started coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target for the company. Barclays dropped their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. StockNews.com lowered Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Monday, January 6th. Finally, Evercore ISI reduced their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Five 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 stock. According to MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target of $648.95.

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.