Chesapeake Wealth Management Reduces Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Chesapeake Wealth Management cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,090 shares of the medical research company’s stock after selling 96 shares during the period. Chesapeake Wealth Management’s holdings in Thermo Fisher Scientific were worth $2,530,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Lafayette Investments Inc. boosted its stake in shares of Thermo Fisher Scientific by 2.1% in the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after buying an additional 17 shares during the last quarter. IFG Advisors LLC boosted its position in Thermo Fisher Scientific by 3.3% in the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after purchasing an additional 17 shares in the last quarter. Patrick M Sweeney & Associates Inc. grew its stake in shares of Thermo Fisher Scientific by 1.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock worth $570,000 after purchasing an additional 18 shares during the period. Drive Wealth Management LLC lifted its stake in shares of Thermo Fisher Scientific by 0.9% in the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock valued at $1,175,000 after purchasing an additional 18 shares during the period. Finally, Quent Capital LLC boosted its holdings in Thermo Fisher Scientific by 1.0% during the second quarter. Quent Capital LLC now owns 1,886 shares of the medical research company’s stock worth $1,043,000 after buying an additional 19 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $552.86, for a total value of $4,975,740.00. Following the completion of the transaction, the chief executive officer now owns 14,608 shares in the company, valued at approximately $8,076,178.88. This represents a 38.12 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,150 shares of company stock valued at $20,651,865. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $501.50 on Tuesday. 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 stock has a market capitalization of $191.82 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. The business has a 50-day moving average of $584.05 and a 200 day moving average of $581.90. Thermo Fisher Scientific Inc. has a 12 month low of $465.90 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.69 earnings per share. As a group, sell-side analysts forecast 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 stock buyback plan 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 shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have weighed in on TMO. Stephens initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective for the company. Evercore ISI lowered their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Barclays cut their price objective on 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. Wells Fargo & Company dropped their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

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.