Prudent Man Advisors LLC Reduces Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Prudent Man Advisors LLC lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.8% in the second quarter, Holdings Channel.com reports. The fund owned 3,528 shares of the medical research company’s stock after selling 63 shares during the quarter. Thermo Fisher Scientific comprises 0.7% of Prudent Man Advisors LLC’s portfolio, making the stock its 21st biggest holding. Prudent Man Advisors LLC’s holdings in Thermo Fisher Scientific were worth $1,841,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Bank Julius Baer & Co. Ltd Zurich grew its stake in Thermo Fisher Scientific by 100,798.8% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 406,539,228 shares of the medical research company’s stock worth $212,111,842,000 after purchasing an additional 406,136,310 shares in the last quarter. Moneta Group Investment Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 104,536.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 8,355,245 shares of the medical research company’s stock valued at $4,601,150,000 after buying an additional 8,347,260 shares during the period. Providence Capital Advisors LLC lifted its stake in Thermo Fisher Scientific by 61,754.7% in the first quarter. Providence Capital Advisors LLC now owns 5,842,175 shares of the medical research company’s stock worth $10,136,000 after acquiring an additional 5,832,730 shares during the period. Norges Bank bought a new position in Thermo Fisher Scientific during the 4th quarter worth about $3,105,677,000. Finally, Arthur M. Cohen & Associates LLC raised its holdings in shares of Thermo Fisher Scientific by 30,904.9% in the 2nd quarter. Arthur M. Cohen & Associates LLC now owns 3,124,051 shares of the medical research company’s stock valued at $5,209,000 after purchasing an additional 3,113,975 shares in the last quarter. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO traded up $4.35 during midday trading on Monday, hitting $470.77. The company’s stock had a trading volume of 147,237 shares, compared to its average volume of 1,562,308. Thermo Fisher Scientific Inc. has a fifty-two week low of $415.60 and a fifty-two week high of $609.85. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.63 and a quick ratio of 1.25. The firm has a market cap of $181.89 billion, a P/E ratio of 30.56, a P/E/G ratio of 2.87 and a beta of 0.81. The firm’s 50 day moving average is $479.00 and its 200-day moving average is $514.14.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 25th. The medical research company reported $5.69 EPS for the quarter, topping analysts’ consensus estimates of $5.61 by $0.08. Thermo Fisher Scientific had a net margin of 13.68% and a return on equity of 18.88%. The business had revenue of $10.57 billion for the quarter, compared to analysts’ expectations of $10.60 billion. During the same quarter last year, the company earned $5.08 EPS. The business’s revenue was down 1.0% on a year-over-year basis. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.52 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Thursday, December 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.17%.

Thermo Fisher Scientific declared that its Board of Directors has authorized a stock buyback program on Tuesday, November 14th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase up to 2.2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Sanford C. Bernstein assumed coverage on Thermo Fisher Scientific in a report on Thursday, September 28th. They set an “outperform” rating and a $603.00 target price for the company. Royal Bank of Canada dropped their price objective on Thermo Fisher Scientific from $657.00 to $579.00 and set an “outperform” rating on the stock in a research report on Thursday, October 26th. Wells Fargo & Company raised shares of Thermo Fisher Scientific from an “underweight” rating to an “equal weight” rating and set a $475.00 price target for the company in a research report on Wednesday, October 25th. KeyCorp lowered shares of Thermo Fisher Scientific from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 26th. Finally, TheStreet downgraded Thermo Fisher Scientific from a “b-” rating to a “c+” rating in a research report on Monday, November 6th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $593.94.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $454.41, for a total value of $4,544,100.00. Following the completion of the sale, the chief executive officer now directly owns 131,175 shares in the company, valued at $59,607,231.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, November 6th. The stock was sold at an average price of $454.41, for a total value of $4,544,100.00. Following the sale, the chief executive officer now directly owns 131,175 shares in the company, valued at approximately $59,607,231.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total value of $1,673,310.00. Following the completion of the transaction, the executive vice president now owns 17,556 shares in the company, valued at approximately $9,792,210.12. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,000 shares of company stock valued at $10,778,910. 0.32% of the stock is owned by company insiders.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.