Fmr LLC Has $4.87 Billion Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Fmr LLC raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 19.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,877,459 shares of the medical research company’s stock after buying an additional 1,294,453 shares during the quarter. Fmr LLC owned 2.06% of Thermo Fisher Scientific worth $4,872,761,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the business. Dai ichi Life Insurance Company Ltd lifted its stake in shares of Thermo Fisher Scientific by 1.0% in the third quarter. Dai ichi Life Insurance Company Ltd now owns 17,707 shares of the medical research company’s stock valued at $10,953,000 after buying an additional 168 shares during the period. Mirabella Financial Services LLP lifted its position in shares of Thermo Fisher Scientific by 21.4% in the 3rd quarter. Mirabella Financial Services LLP now owns 33,281 shares of the medical research company’s stock worth $20,587,000 after acquiring an additional 5,866 shares during the period. Boston Family Office LLC increased its position in shares of Thermo Fisher Scientific by 0.7% during the third quarter. Boston Family Office LLC now owns 40,497 shares of the medical research company’s stock valued at $25,050,000 after purchasing an additional 269 shares during the period. Independent Advisor Alliance raised its stake in shares of Thermo Fisher Scientific by 2.0% in the third quarter. Independent Advisor Alliance now owns 12,523 shares of the medical research company’s stock valued at $7,747,000 after purchasing an additional 246 shares in the last quarter. Finally, Davis R M Inc. boosted its stake in Thermo Fisher Scientific by 3.3% during the third quarter. Davis R M Inc. now owns 131,893 shares of the medical research company’s stock worth $81,585,000 after buying an additional 4,225 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,150 shares of company stock valued at $20,651,865 over the last three months. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $514.05 on Tuesday. The stock has a market cap of $196.62 billion, a price-to-earnings ratio of 32.23, a P/E/G ratio of 3.39 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 12-month low of $480.57 and a 12-month high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The business’s 50-day simple moving average is $573.70 and its 200 day simple moving average is $579.75.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter in the previous year, the company earned $5.69 EPS. Thermo Fisher Scientific’s revenue was up .2% on a year-over-year basis. As a group, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has approved a stock buyback plan on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is presently 9.78%.

Analysts Set New Price Targets

TMO has been the subject of a number of analyst reports. Stephens assumed coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Wells Fargo & Company cut their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Robert W. Baird lowered their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Redburn Atlantic started coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. Finally, Stifel Nicolaus dropped their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, 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, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.