Quantbot Technologies LP Sells 9,488 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Quantbot Technologies LP lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 81.9% during the 3rd quarter, Holdings Channel reports. The firm owned 2,090 shares of the medical research company’s stock after selling 9,488 shares during the period. Quantbot Technologies LP’s holdings in Thermo Fisher Scientific were worth $1,293,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in TMO. International Assets Investment Management LLC grew its position in Thermo Fisher Scientific by 76,051.4% during the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after buying an additional 1,414,556 shares during the period. FMR LLC grew its position in shares of Thermo Fisher Scientific by 19.7% during the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after acquiring an additional 1,294,453 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Thermo Fisher Scientific by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after purchasing an additional 604,895 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Thermo Fisher Scientific in the third quarter valued at approximately $254,412,000. Finally, Point72 Asset Management L.P. grew its holdings in Thermo Fisher Scientific by 743.6% during the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after purchasing an additional 296,646 shares during the period. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the sale, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock valued at $20,651,865 in the last ninety days. Company insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Wells Fargo & Company dropped their price target on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Robert W. Baird cut their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada dropped their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. lifted their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Finally, UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $529.63 on Friday. The business’s 50-day moving average price is $566.33 and its 200-day moving average price is $577.84. The firm has a market capitalization of $202.58 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 12 month low of $487.06 and a 12 month high of $627.88. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $5.69 EPS. Sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has approved a share repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to buy up to 2% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Thermo Fisher Scientific Profile

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.