Cim Investment Management Inc. Sells 73 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Cim Investment Management Inc. lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,190 shares of the medical research company’s stock after selling 73 shares during the quarter. Thermo Fisher Scientific accounts for approximately 0.6% of Cim Investment Management Inc.’s investment portfolio, making the stock its 28th biggest position. Cim Investment Management Inc.’s holdings in Thermo Fisher Scientific were worth $1,973,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Signature Resources Capital Management LLC increased its stake in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares during the period. Legacy Investment Solutions LLC bought a new stake in Thermo Fisher Scientific in the third quarter valued at approximately $26,000. Peterson Financial Group Inc. bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $27,000. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $29,000. Finally, Stephens Consulting LLC boosted its holdings in shares of Thermo Fisher Scientific by 116.0% during the 2nd 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. Institutional investors own 89.23% of the company’s stock.

Insider Activity

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the company’s 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 $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at $7,134,197.76. This represents a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company’s 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 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 represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock worth $25,954,465 over the last ninety days. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO traded down $4.66 during midday trading on Thursday, reaching $529.70. The company had a trading volume of 83,293 shares, compared to its average volume of 1,529,497. The company’s 50 day moving average price is $553.35 and its 200 day moving average price is $574.46. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock has a market cap of $202.61 billion, a P/E ratio of 33.50, a P/E/G ratio of 3.56 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 52-week low of $493.30 and a 52-week high of $627.88.

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 company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.69 EPS. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

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

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of research analyst reports. Robert W. Baird cut their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Stifel Nicolaus lowered their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. TD Cowen upped their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Barclays lowered their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research report on Wednesday, October 23rd. Finally, Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus target price 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.