International Assets Investment Management LLC Sells 1,414,575 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

International Assets Investment Management LLC trimmed its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 99.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,841 shares of the medical research company’s stock after selling 1,414,575 shares during the period. International Assets Investment Management LLC’s holdings in Thermo Fisher Scientific were worth $962,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of TMO. One Wealth Capital Management LLC purchased a new stake in shares of Thermo Fisher Scientific in the 4th quarter valued at about $835,000. Diversified Trust Co lifted its position in Thermo Fisher Scientific by 25.5% during the fourth quarter. Diversified Trust Co now owns 12,784 shares of the medical research company’s stock valued at $6,651,000 after purchasing an additional 2,594 shares during the last quarter. Bangor Savings Bank increased its holdings in shares of Thermo Fisher Scientific by 6.0% in the 4th quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after buying an additional 19 shares during the last quarter. Oliver Luxxe Assets LLC raised its position in shares of Thermo Fisher Scientific by 6.2% during the 4th quarter. Oliver Luxxe Assets LLC now owns 9,461 shares of the medical research company’s stock valued at $4,922,000 after buying an additional 555 shares in the last quarter. Finally, Doliver Advisors LP grew its position in Thermo Fisher Scientific by 1.6% in the fourth quarter. Doliver Advisors LP now owns 2,803 shares of the medical research company’s stock worth $1,458,000 after acquiring an additional 44 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TMO. Scotiabank assumed coverage on Thermo Fisher Scientific in a research note on Monday, December 23rd. They set a “sector perform” rating and a $605.00 price target for the company. Barclays reduced their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Bank of America lowered their price objective on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a report on Friday, December 13th. Bernstein Bank boosted their price target 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. Finally, StockNews.com cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Monday. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $650.05.

Insider Activity

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 stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The sale 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 stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the sale, the chief executive officer now directly owns 121,192 shares in the company, valued at approximately $67,175,513.68. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,150 shares of company stock worth $25,954,465. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO stock opened at $545.00 on Friday. The firm has a 50-day moving average of $530.21 and a 200 day moving average of $568.07. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The company has a market cap of $208.46 billion, a P/E ratio of 34.17, a PEG ratio of 3.54 and a beta of 0.76. Thermo Fisher Scientific Inc. has a 1 year low of $493.30 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $5.69 earnings per share. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm 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 $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

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