Thermo Fisher Scientific (NYSE:TMO) Cut to Hold at Wall Street Zen

Wall Street Zen downgraded shares of Thermo Fisher Scientific (NYSE:TMO) from a buy rating to a hold rating in a report released on Saturday morning.

Other equities analysts have also issued research reports about the company. Redburn Partners set a $580.00 price target on Thermo Fisher Scientific in a report on Wednesday, October 8th. Argus upped their price objective on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Hsbc Global Res raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. Finally, Morgan Stanley lifted their price objective on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $633.68.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $582.07 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. Thermo Fisher Scientific has a 1-year low of $385.46 and a 1-year high of $643.99. The stock has a market cap of $218.69 billion, a PE ratio of 32.81, a price-to-earnings-growth ratio of 3.82 and a beta of 0.93. The firm has a fifty day moving average price of $593.88 and a 200 day moving average price of $539.86.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter last year, the business posted $6.10 EPS. As a group, sell-side analysts anticipate that Thermo Fisher Scientific will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were issued a $0.43 dividend. The ex-dividend date was Monday, December 15th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.70%.

Thermo Fisher Scientific declared that its board has authorized a stock repurchase plan on Thursday, November 6th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Frederick M. Lowery sold 6,912 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total value of $4,022,369.28. Following the sale, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,360,731.98. This represents a 32.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Michael D. Shafer sold 10,725 shares of Thermo Fisher Scientific stock in a transaction dated Tuesday, November 25th. The stock was sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the transaction, the executive vice president owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. The trade was a 36.41% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 124,517 shares of company stock valued at $72,363,568 in the last three months. 0.33% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of TMO. Howard Capital Management Inc. raised its holdings in shares of Thermo Fisher Scientific by 0.5% in the fourth quarter. Howard Capital Management Inc. now owns 3,091 shares of the medical research company’s stock worth $1,791,000 after acquiring an additional 16 shares during the last quarter. Petros Family Wealth LLC lifted its holdings in Thermo Fisher Scientific by 3.9% in the 4th quarter. Petros Family Wealth LLC now owns 456 shares of the medical research company’s stock valued at $264,000 after purchasing an additional 17 shares in the last quarter. Salomon & Ludwin LLC boosted its stake in shares of Thermo Fisher Scientific by 1.6% during the 4th quarter. Salomon & Ludwin LLC now owns 1,095 shares of the medical research company’s stock worth $669,000 after purchasing an additional 17 shares during the last quarter. Financial Management Network Inc. grew its holdings in shares of Thermo Fisher Scientific by 3.7% during the third quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock worth $248,000 after buying an additional 18 shares in the last quarter. Finally, Pallas Capital Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 1.5% during the fourth quarter. Pallas Capital Advisors LLC now owns 1,256 shares of the medical research company’s stock valued at $728,000 after buying an additional 18 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.