Knuff & Co LLC Cuts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Knuff & Co LLC trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% in the 3rd quarter, HoldingsChannel reports. The firm owned 10,513 shares of the medical research company’s stock after selling 120 shares during the quarter. Thermo Fisher Scientific makes up approximately 2.0% of Knuff & Co LLC’s portfolio, making the stock its 17th largest holding. Knuff & Co LLC’s holdings in Thermo Fisher Scientific were worth $6,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the transaction, the chief executive officer now owns 121,192 shares in the company, valued at $67,175,513.68. The trade was a 7.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Price Performance

TMO stock opened at $501.50 on Tuesday. The business’s fifty day moving average price is $584.05 and its 200 day moving average price is $581.90. Thermo Fisher Scientific Inc. has a 12-month low of $465.90 and a 12-month high of $627.88. The company has a market capitalization of $191.82 billion, a PE ratio of 31.44, a P/E/G ratio of 3.39 and a beta of 0.79. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the firm posted $5.69 earnings per share. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific declared that its board has approved a share buyback plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Redburn Atlantic started 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 target for the company. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Robert W. Baird dropped their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Sanford C. Bernstein lowered their target price on shares of 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. Finally, TD Cowen raised their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus 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.