Thermo Fisher Scientific (NYSE:TMO) CEO Sells $2,562,000.00 in Stock

Key Points

• CEO Marc Casper sold 5,000 shares at an average of $512.40 for a total of $2,562,000, trimming his stake by 3.88% to 123,925 shares (about $63.5M), per the SEC filing.
• Thermo Fisher beat quarterly estimates, reporting $6.57 EPS versus $6.45 expected and revenue of $12.22 billion, up 7.2% year-over-year.
• Shareholder returns increased: the company raised its quarterly dividend to $0.47 (from $0.43) with an ex-dividend date of March 13 and launched a $5.0 billion share repurchase program (up to ~2.4% of shares).

Thermo Fisher Scientific Inc. (NYSE:TMO - Get Free Report) CEO Marc Casper sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total value of $2,562,000.00. Following the transaction, the chief executive officer directly owned 123,925 shares in the company, valued at $63,499,170. This trade represents a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Thermo Fisher Scientific Trading Up 1.3%

NYSE:TMO traded up $6.88 during trading hours on Thursday, hitting $519.57. The company had a trading volume of 3,283,654 shares, compared to its average volume of 2,540,352. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53. The stock has a 50-day moving average price of $570.10 and a 200 day moving average price of $548.43. The company has a market capitalization of $193.01 billion, a PE ratio of 29.29, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping the consensus estimate of $6.45 by $0.12. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm had revenue of $12.22 billion during the quarter, compared to analysts' expectations of $11.95 billion. During the same period last year, the company posted $6.10 EPS. The company's quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be given a $0.47 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.43. Thermo Fisher Scientific's dividend payout ratio is currently 9.70%.

Thermo Fisher Scientific declared that its board has initiated a share repurchase program on Thursday, November 6th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on TMO shares. Stifel Nicolaus increased their price target on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a "buy" rating in a research note on Friday, January 9th. UBS Group reaffirmed a "neutral" rating and set a $615.00 target price on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Wall Street Zen upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. Weiss Ratings reiterated a "hold (c)" rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. Finally, Citigroup increased their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a "buy" rating in a research note on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $633.68.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Lombard Odier Asset Management Switzerland SA lifted its stake in Thermo Fisher Scientific by 8.4% during the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company's stock worth $5,875,000 after acquiring an additional 1,128 shares in the last quarter. Cornerstone Investment Partners LLC purchased a new stake in Thermo Fisher Scientific during the third quarter worth about $41,393,000. Weaver Capital Management LLC acquired a new stake in shares of Thermo Fisher Scientific during the third quarter worth about $506,000. VELA Investment Management LLC boosted its stake in shares of Thermo Fisher Scientific by 65.5% in the third quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company's stock valued at $4,513,000 after purchasing an additional 3,683 shares during the period. Finally, Lockheed Martin Investment Management Co. increased its stake in Thermo Fisher Scientific by 45.3% during the 3rd quarter. Lockheed Martin Investment Management Co. now owns 11,160 shares of the medical research company's stock worth $5,413,000 after buying an additional 3,480 shares during the period. Hedge funds and other institutional investors own 89.23% of the company's stock.

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.

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