Comerica Securities Inc. Trims Stake in Thermo Fisher Scientific Inc. (TMO)

Comerica Securities Inc. lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,520 shares of the medical research company’s stock after selling 243 shares during the period. Comerica Securities Inc.’s holdings in Thermo Fisher Scientific were worth $1,348,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. FNY Investment Advisers LLC acquired a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $103,000. Horrell Capital Management Inc. acquired a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $104,000. Edge Wealth Management LLC raised its holdings in Thermo Fisher Scientific by 8,077.8% in the second quarter. Edge Wealth Management LLC now owns 736 shares of the medical research company’s stock valued at $152,000 after acquiring an additional 727 shares in the last quarter. Atlantic Trust LLC acquired a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $154,000. Finally, Summit Financial Group Inc. acquired a new stake in Thermo Fisher Scientific in the third quarter valued at approximately $201,000. 85.22% of the stock is currently owned by institutional investors and hedge funds.

Shares of Thermo Fisher Scientific stock opened at $243.45 on Friday. The company has a market capitalization of $95.91 billion, a price-to-earnings ratio of 25.65, a P/E/G ratio of 1.73 and a beta of 1.08. Thermo Fisher Scientific Inc. has a 52 week low of $181.51 and a 52 week high of $249.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.84.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.07. The company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.70 billion. Thermo Fisher Scientific had a net margin of 10.75% and a return on equity of 16.49%. The firm’s revenue was up 15.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.31 earnings per share. Analysts anticipate that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be paid a $0.17 dividend. The ex-dividend date is Friday, December 14th. This represents a $0.68 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 7.17%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase program on Friday, September 7th that allows the company to buyback $2.00 billion in outstanding shares. This buyback authorization allows the medical research company to purchase up to 2.1% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Several brokerages recently weighed in on TMO. Zacks Investment Research raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $247.00 target price on the stock in a report on Friday, October 26th. Morgan Stanley raised their target price on shares of Thermo Fisher Scientific from $254.00 to $260.00 and gave the company an “overweight” rating in a report on Thursday, October 25th. Robert W. Baird raised their target price on shares of Thermo Fisher Scientific from $256.00 to $264.00 and gave the company an “outperform” rating in a report on Thursday, October 25th. Cleveland Research cut shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a report on Thursday, October 18th. Finally, Citigroup raised their target price on shares of Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a report on Wednesday, October 10th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Thermo Fisher Scientific presently has an average rating of “Buy” and an average target price of $261.45.

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 125,520 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $247.50, for a total value of $31,066,200.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 0.49% of the company’s stock.

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Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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