Mill Creek Capital Advisors LLC Sells 4,149 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Mill Creek Capital Advisors LLC trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 31.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,167 shares of the medical research company’s stock after selling 4,149 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Thermo Fisher Scientific were worth $5,670,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Signature Resources Capital Management LLC lifted its stake in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares during the period. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $29,000. Stephens Consulting LLC grew its position in shares of Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares during the period. Headlands Technologies LLC acquired a new position in Thermo Fisher Scientific in the first quarter valued at approximately $32,000. Finally, Bank & Trust Co bought a new position in Thermo Fisher Scientific in the second quarter valued at approximately $33,000. 89.23% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. TD Cowen raised their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Barclays decreased their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Redburn Atlantic started coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. Stephens initiated coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 target price for the company. Finally, Royal Bank of Canada reduced their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Four investment 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, the company currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Trading Down 3.7 %

Shares of 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 business’s 50 day moving average is $586.43 and its 200-day moving average is $582.34. The stock has a market cap of $196.25 billion, a P/E ratio of 32.17, a P/E/G ratio of 3.39 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, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period last year, the business posted $5.69 EPS. Thermo Fisher Scientific’s revenue was up .2% on a year-over-year basis. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis 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 is presently 9.78%.

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 shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In other news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s 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 transaction, the chief executive officer now owns 121,192 shares in the company, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,150 shares of company stock valued at $20,651,865. Insiders own 0.34% of the company’s stock.

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.