MAI Capital Management Has $8.84 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

MAI Capital Management trimmed its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,284 shares of the medical research company’s stock after selling 769 shares during the quarter. MAI Capital Management’s holdings in Thermo Fisher Scientific were worth $8,835,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of TMO. Peterson Financial Group Inc. acquired a new stake in Thermo Fisher Scientific during the third quarter worth approximately $27,000. Signature Resources Capital Management LLC grew its holdings 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 worth $25,000 after purchasing an additional 35 shares in the last quarter. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific in the second quarter valued at about $29,000. Stephens Consulting LLC grew its stake in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares in the last quarter. Finally, Bank & Trust Co bought a new position in Thermo Fisher Scientific in the 2nd quarter valued at about $33,000. Institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock worth $20,651,865 in the last quarter. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on TMO shares. 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. TD Cowen boosted their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Sanford C. Bernstein reduced their price objective on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Barclays lowered 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 research report on Wednesday, October 23rd. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Trading Down 2.3 %

NYSE:TMO opened at $501.50 on Tuesday. Thermo Fisher Scientific Inc. has a 52 week low of $465.90 and a 52 week high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The firm’s fifty day moving average is $584.05 and its 200-day moving average is $581.90. The firm has a market cap of $191.82 billion, a P/E ratio of 31.44, a P/E/G ratio of 3.39 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $5.69 EPS. Equities analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has authorized a share buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.31%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

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.