Icon Wealth Advisors LLC Sells 151 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Icon Wealth Advisors LLC reduced its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,140 shares of the medical research company’s stock after selling 151 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Thermo Fisher Scientific were worth $5,654,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC increased its position in shares of Thermo Fisher Scientific by 76,051.4% during the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after buying an additional 1,414,556 shares during the period. FMR LLC increased its holdings in Thermo Fisher Scientific by 19.7% during the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after acquiring an additional 1,294,453 shares during the period. Ameriprise Financial Inc. lifted its stake in Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after purchasing an additional 604,895 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at $254,412,000. Finally, Point72 Asset Management L.P. increased its holdings in shares of Thermo Fisher Scientific by 743.6% in the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock worth $186,105,000 after purchasing an additional 296,646 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Royal Bank of Canada reduced their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Stifel Nicolaus dropped their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Sanford C. Bernstein dropped their price objective on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company lowered their price target on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Bank of America raised their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Four investment 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, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $521.66 on Friday. The firm has a market cap of $199.53 billion, a P/E ratio of 32.71, a PEG ratio of 3.45 and a beta of 0.79. The company has a 50 day moving average of $568.01 and a 200 day moving average of $578.38. Thermo Fisher Scientific Inc. has a twelve month low of $480.57 and a twelve month high of $627.88. 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 released its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate of $5.25 by $0.03. The company 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%. Thermo Fisher Scientific’s revenue for the quarter was up .2% on a year-over-year basis. During the same period last year, the company earned $5.69 EPS. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced 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 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

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

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Marc N. Casper sold 9,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $552.86, for a total transaction 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. This represents a 38.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock valued at $20,651,865 in the last ninety days. 0.34% of the stock is currently owned by company insiders.

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.