Accent Capital Management LLC Reduces Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Accent Capital Management LLC reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 45.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 854 shares of the medical research company’s stock after selling 721 shares during the quarter. Accent Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $529,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TMO. Signature Resources Capital Management LLC grew its stake in shares of Thermo Fisher Scientific by 318.2% during the 2nd 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 second quarter worth approximately $29,000. Stephens Consulting LLC increased its stake in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares in the last quarter. Headlands Technologies LLC purchased a new position in shares of Thermo Fisher Scientific during the 1st quarter valued at $32,000. Finally, Bank & Trust Co bought a new position in Thermo Fisher Scientific in the 2nd quarter worth $33,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. JPMorgan Chase & Co. boosted their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Barclays dropped their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. 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 report on Monday, September 16th. Stephens assumed coverage on Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target for the company. Finally, Stifel Nicolaus decreased their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Four 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. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Price Performance

TMO opened at $513.08 on Friday. The stock has a market cap of $196.25 billion, a P/E ratio of 32.17, a PEG ratio of 3.39 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 52-week low of $464.17 and a 52-week high of $627.88. The business has a fifty day moving average of $586.43 and a 200 day moving average of $582.34. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the company posted $5.69 earnings per share. The company’s quarterly revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

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

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the company’s 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 transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 9,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at $8,076,178.88. The trade was a 38.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,150 shares of company stock worth $20,651,865 in the last three months. Corporate 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.