Symmetry Partners LLC Trims Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

15 Dec 2023, 21:42 by Doug Wharley · The Cerbat Gem

Symmetry Partners LLC lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 7.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,152 shares of the medical research company’s stock after selling 261 shares during the quarter. Symmetry Partners LLC’s holdings in Thermo Fisher Scientific were worth $1,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Savant Capital LLC increased its position in shares of Thermo Fisher Scientific by 0.5% during the fourth quarter. Savant Capital LLC now owns 3,627 shares of the medical research company’s stock valued at $1,997,000 after buying an additional 18 shares during the period. Sunflower Bank N.A. grew its holdings in Thermo Fisher Scientific by 3.0% in the second quarter. Sunflower Bank N.A. now owns 645 shares of the medical research company’s stock worth $337,000 after purchasing an additional 19 shares during the period. 1776 Wealth LLC grew its holdings in Thermo Fisher Scientific by 2.4% in the fourth quarter. 1776 Wealth LLC now owns 799 shares of the medical research company’s stock worth $440,000 after purchasing an additional 19 shares during the period. Beacon Capital Management LLC grew its holdings in Thermo Fisher Scientific by 9.0% in the second quarter. Beacon Capital Management LLC now owns 242 shares of the medical research company’s stock worth $126,000 after purchasing an additional 20 shares during the period. Finally, Dover Advisors LLC grew its holdings in Thermo Fisher Scientific by 0.6% in the second quarter. Dover Advisors LLC now owns 3,168 shares of the medical research company’s stock worth $1,654,000 after purchasing an additional 20 shares during the period. Hedge funds and other institutional investors own 87.06% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $454.41, for a total transaction of $4,544,100.00. Following the sale, the chief executive officer now directly owns 131,175 shares in the company, valued at approximately $59,607,231.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.5 %

Shares of Thermo Fisher Scientific stock opened at $519.03 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.63 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a twelve month low of $415.60 and a twelve month high of $609.85. The company has a market cap of $200.54 billion, a price-to-earnings ratio of 34.18, a price-to-earnings-growth ratio of 3.15 and a beta of 0.83. The company’s 50 day moving average is $474.41 and its 200 day moving average is $509.74.

Thermo Fisher Scientific (NYSE:TMO – Get Free Report) last released its quarterly earnings results on Wednesday, October 25th. The medical research company reported $5.69 earnings per share for the quarter, topping the consensus estimate of $5.61 by $0.08. Thermo Fisher Scientific had a net margin of 13.68% and a return on equity of 18.88%. The business had revenue of $10.57 billion for the quarter, compared to the consensus estimate of $10.60 billion. During the same period last year, the firm earned $5.08 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.52 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase plan on Tuesday, November 14th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Shareholders of record on Friday, December 15th will be given a $0.35 dividend. The ex-dividend date is Thursday, December 14th. This represents a $1.40 annualized dividend and a yield of 0.27%. Thermo Fisher Scientific’s payout ratio is presently 9.17%.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Royal Bank of Canada cut their price objective on shares of Thermo Fisher Scientific from $657.00 to $579.00 and set an “outperform” rating on the stock in a report on Thursday, October 26th. JPMorgan Chase & Co. cut their price objective on shares of Thermo Fisher Scientific from $670.00 to $630.00 and set an “overweight” rating on the stock in a report on Tuesday, October 17th. Citigroup upped their target price on shares of Thermo Fisher Scientific from $530.00 to $575.00 and gave the stock a “buy” rating in a research note on Monday. Stifel Nicolaus dropped their target price on shares of Thermo Fisher Scientific from $660.00 to $530.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. Finally, Wolfe Research assumed coverage on shares of Thermo Fisher Scientific in a research note on Wednesday. They issued an “outperform” rating and a $575.00 target price on the stock. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $596.75.

Get Our Latest Research Report on Thermo Fisher Scientific

Thermo Fisher Scientific Profile

(Free Report)

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.