MRA Advisory Group Sells 38 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

MRA Advisory Group decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.7% during the third quarter, HoldingsChannel reports. The fund owned 400 shares of the medical research company’s stock after selling 38 shares during the quarter. MRA Advisory Group’s holdings in Thermo Fisher Scientific were worth $248,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TMO. Rockland Trust Co. raised its position in Thermo Fisher Scientific by 1.6% in the 3rd quarter. Rockland Trust Co. now owns 30,338 shares of the medical research company’s stock worth $18,766,000 after purchasing an additional 483 shares during the period. Abacus Wealth Partners LLC bought a new position in shares of Thermo Fisher Scientific during the third quarter valued at approximately $286,000. Apella Capital LLC raised its holdings in shares of Thermo Fisher Scientific by 8.5% in the third quarter. Apella Capital LLC now owns 538 shares of the medical research company’s stock worth $330,000 after buying an additional 42 shares during the period. Farmers Trust Co. lifted its stake in shares of Thermo Fisher Scientific by 70.9% during the 3rd quarter. Farmers Trust Co. now owns 622 shares of the medical research company’s stock worth $385,000 after acquiring an additional 258 shares during the last quarter. Finally, Czech National Bank grew its position in Thermo Fisher Scientific by 7.0% in the 3rd quarter. Czech National Bank now owns 77,816 shares of the medical research company’s stock valued at $48,135,000 after acquiring an additional 5,076 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of several research analyst reports. Bank of America lifted their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Wells Fargo & Company initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, August 27th. They issued an “overweight” rating and a $670.00 price objective for the company. Raymond James lifted their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $767.00 target price on shares of Thermo Fisher Scientific in a research report on Friday, September 20th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $653.72.

Thermo Fisher Scientific Stock Down 1.9 %

NYSE:TMO opened at $600.92 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.37 and a current ratio of 1.72. The stock has a market capitalization of $229.55 billion, a P/E ratio of 38.55, a P/E/G ratio of 3.90 and a beta of 0.78. The company’s 50-day simple moving average is $609.63 and its 200-day simple moving average is $582.66. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, July 24th. The medical research company reported $5.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.13 by $0.24. The business had revenue of $10.54 billion for the quarter, compared to the consensus estimate of $10.50 billion. Thermo Fisher Scientific had a return on equity of 18.22% and a net margin of 14.69%. The business’s quarterly revenue was down 1.4% on a year-over-year basis. During the same period in the prior year, the firm posted $5.15 earnings per share. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.72 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Friday, September 13th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, September 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.26%. Thermo Fisher Scientific’s payout ratio is 10.01%.

Insider Activity at Thermo Fisher Scientific

In other news, CAO Joseph R. Holmes sold 860 shares of Thermo Fisher Scientific stock in a transaction on Friday, July 26th. The shares were sold at an average price of $611.03, for a total transaction of $525,485.80. Following the completion of the sale, the chief accounting officer now directly owns 1,814 shares in the company, valued at $1,108,408.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CAO Joseph R. Holmes sold 860 shares of the firm’s stock in a transaction dated Friday, July 26th. The stock was sold at an average price of $611.03, for a total value of $525,485.80. Following the completion of the transaction, the chief accounting officer now directly owns 1,814 shares in the company, valued at $1,108,408.42. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, July 26th. The shares were sold at an average price of $600.85, for a total value of $180,255.00. Following the completion of the sale, the executive vice president now owns 17,887 shares in the company, valued at approximately $10,747,403.95. The disclosure for this sale can be found here. Insiders sold 23,084 shares of company stock valued at $14,094,292 in the last three months. 0.34% of the stock is owned by insiders.

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.