29,914 Shares in Thermo Fisher Scientific Inc. (NYSE:TMO) Purchased by Avanza Fonder AB

Avanza Fonder AB acquired a new position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 29,914 shares of the medical research company's stock, valued at approximately $15,562,000. Thermo Fisher Scientific comprises approximately 0.5% of Avanza Fonder AB's portfolio, making the stock its 29th biggest holding.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. International Assets Investment Management LLC lifted its stake in Thermo Fisher Scientific by 76,051.4% in the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company's stock worth $876,152,000 after purchasing an additional 1,414,556 shares during the last quarter. FMR LLC lifted its holdings in 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 buying an additional 1,294,453 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Thermo Fisher Scientific by 32.2% in 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 acquiring an additional 604,895 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Thermo Fisher Scientific during the third quarter worth approximately $254,412,000. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Thermo Fisher Scientific by 743.6% in 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.

Insider Activity at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the sale, the chief executive officer now owns 111,192 shares of the company's stock, valued at $58,960,669.92. This represents a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the business's stock in a transaction dated 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 transaction, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an "overweight" rating in a research report on Friday, September 20th. Barclays lowered their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 23rd. Evercore ISI cut their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Stephens started coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an "overweight" rating and a $680.00 price objective on the stock. Finally, StockNews.com upgraded Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $648.95.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO traded down $1.99 on Friday, hitting $559.72. 2,134,669 shares of the company were exchanged, compared to its average volume of 1,426,114. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock's 50 day moving average price is $529.96 and its 200 day moving average price is $568.09. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The firm has a market capitalization of $214.09 billion, a P/E ratio of 35.09, a price-to-earnings-growth ratio of 3.59 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings data 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 return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the prior year, the firm posted $5.69 EPS. The business's quarterly revenue was up .2% compared to the same quarter last year. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific announced that its board has approved a stock repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company's board believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific's payout ratio is 9.78%.

Thermo Fisher Scientific Company 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.