AGF Investments Inc. lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 176,812 shares of the medical research company’s stock after selling 2,417 shares during the quarter. AGF Investments Inc.’s holdings in Thermo Fisher Scientific were worth $101,018,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in TMO. Price T Rowe Associates Inc. MD increased its stake in Thermo Fisher Scientific by 19.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,316,751 shares of the medical research company’s stock valued at $6,717,901,000 after buying an additional 2,133,690 shares during the period. Amundi acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth $893,779,000. Nordea Investment Management AB increased its stake in shares of Thermo Fisher Scientific by 105.0% during the 3rd quarter. Nordea Investment Management AB now owns 1,475,334 shares of the medical research company’s stock worth $865,712,000 after purchasing an additional 755,745 shares during the last quarter. Putnam Investments LLC increased its stake in shares of Thermo Fisher Scientific by 152.7% during the 2nd quarter. Putnam Investments LLC now owns 1,109,316 shares of the medical research company’s stock worth $559,617,000 after purchasing an additional 670,372 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Thermo Fisher Scientific by 10.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,993,588 shares of the medical research company’s stock worth $2,014,647,000 after purchasing an additional 381,863 shares during the last quarter. Hedge funds and other institutional investors own 85.93% of the company’s stock.
A number of analysts have weighed in on TMO shares. JPMorgan Chase & Co. increased their price target on shares of Thermo Fisher Scientific from $600.00 to $700.00 and gave the company an “overweight” rating in a report on Monday, September 20th. The Goldman Sachs Group upgraded shares of Thermo Fisher Scientific from a “buy” rating to a “conviction-buy” rating in a research report on Thursday, September 23rd. Morgan Stanley assumed coverage on shares of Thermo Fisher Scientific in a research report on Thursday, October 28th. They issued an “overweight” rating for the company. Zacks Investment Research lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating and set a $651.00 target price on the stock. in a research note on Friday, January 7th. Finally, KeyCorp raised their target price on shares of Thermo Fisher Scientific from $555.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, September 20th. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $635.78.
Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 27th. The medical research company reported $5.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $4.67 by $1.09. The firm had revenue of $9.33 billion for the quarter, compared to the consensus estimate of $8.41 billion. Thermo Fisher Scientific had a net margin of 21.93% and a return on equity of 28.14%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $5.63 earnings per share. Sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 23.76 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 14th. Investors of record on Wednesday, December 15th will be given a dividend of $0.26 per share. The ex-dividend date is Tuesday, December 14th. This represents a $1.04 annualized dividend and a yield of 0.18%. Thermo Fisher Scientific’s dividend payout ratio is 4.83%.
Thermo Fisher Scientific announced that its board has authorized a share repurchase plan on Thursday, September 23rd that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the medical research company to reacquire up to 1.3% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board believes its stock is undervalued.
In other news, COO Mark Stevenson sold 26,925 shares of the company’s stock in a transaction that occurred on Wednesday, December 1st. The stock was sold at an average price of $631.88, for a total value of $17,013,369.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Stephen Williamson sold 22,550 shares of the company’s stock in a transaction that occurred on Tuesday, November 2nd. The shares were sold at an average price of $638.10, for a total value of $14,389,155.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 76,400 shares of company stock valued at $48,437,702. Insiders own 0.44% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
Recommended Story: The benefits and drawbacks of dollar cost averaging
Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO).
Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.