Thermo Fisher Scientific Inc. (TMO) Shares Sold by Novare Capital Management LLC
Novare Capital Management LLC reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% in the 4th quarter, Holdings Channel reports. The firm owned 36,017 shares of the medical research company’s stock after selling 256 shares during the quarter. Thermo Fisher Scientific makes up 1.2% of Novare Capital Management LLC’s holdings, making the stock its 28th largest holding. Novare Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $6,839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors also recently added to or reduced their stakes in the company. Bank of Nova Scotia Trust Co. acquired a new position in Thermo Fisher Scientific during the 3rd quarter valued at $106,000. Ropes Wealth Advisors LLC raised its stake in Thermo Fisher Scientific by 15.8% during the 2nd quarter. Ropes Wealth Advisors LLC now owns 710 shares of the medical research company’s stock valued at $124,000 after purchasing an additional 97 shares during the last quarter. Atlantic Trust LLC acquired a new position in Thermo Fisher Scientific during the 2nd quarter valued at $138,000. Acrospire Investment Management LLC raised its stake in Thermo Fisher Scientific by 66.7% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,000 shares of the medical research company’s stock valued at $174,000 after purchasing an additional 400 shares during the last quarter. Finally, Glassman Wealth Services raised its stake in Thermo Fisher Scientific by 23.1% during the 2nd quarter. Glassman Wealth Services now owns 1,039 shares of the medical research company’s stock valued at $181,000 after purchasing an additional 195 shares during the last quarter. Hedge funds and other institutional investors own 86.31% of the company’s stock.
In other news, SVP Gregory J. Herrema sold 33,327 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $219.70, for a total value of $7,321,941.90. Following the sale, the senior vice president now owns 60,471 shares of the company’s stock, valued at approximately $13,285,478.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick M. Durbin sold 6,000 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $217.55, for a total transaction of $1,305,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 139,327 shares of company stock worth $27,633,742. 0.49% of the stock is owned by insiders.
Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, January 31st. The medical research company reported $2.79 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.66 by $0.13. Thermo Fisher Scientific had a net margin of 10.64% and a return on equity of 16.01%. The business had revenue of $6.05 billion for the quarter, compared to analyst estimates of $5.72 billion. During the same quarter in the prior year, the firm earned $2.41 EPS. The firm’s quarterly revenue was up 22.1% compared to the same quarter last year. research analysts expect that Thermo Fisher Scientific Inc. will post 10.81 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 16th. Stockholders of record on Thursday, March 15th will be issued a $0.17 dividend. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, March 14th. This represents a $0.68 annualized dividend and a dividend yield of 0.33%. Thermo Fisher Scientific’s dividend payout ratio is presently 10.71%.
TMO has been the subject of several research analyst reports. ValuEngine upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Friday, February 2nd. Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $223.00 to $227.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. BTIG Research started coverage on shares of Thermo Fisher Scientific in a research note on Friday, January 5th. They issued a “buy” rating and a $230.00 price objective for the company. Evercore ISI started coverage on shares of Thermo Fisher Scientific in a research note on Wednesday, January 3rd. They issued an “outperform” rating and a $220.00 price objective for the company. Finally, Zacks Investment Research cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Monday, October 30th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $220.50.
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About Thermo Fisher Scientific
Thermo Fisher Scientific Inc develops, manufactures and sells a range of products. The Company provides analytical instruments, equipment, reagents and consumables, software and services for research, manufacturing, analysis, discovery and diagnostics. It operates through four segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
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