Geode Capital Management LLC Purchases 127,564 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Geode Capital Management LLC boosted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,659,943 shares of the medical research company's stock after acquiring an additional 127,564 shares during the period. Geode Capital Management LLC owned 2.00% of Thermo Fisher Scientific worth $4,719,477,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legacy Investment Solutions LLC purchased a new position in Thermo Fisher Scientific in the 3rd quarter valued at approximately $26,000. Peterson Financial Group Inc. bought a new position in Thermo Fisher Scientific in the 3rd quarter worth about $27,000. Signature Resources Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company's stock worth $25,000 after buying an additional 35 shares in the last quarter. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific during the second quarter valued at approximately $29,000. Finally, Stephens Consulting LLC increased its holdings in Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company's stock worth $30,000 after acquiring an additional 29 shares during the period. Institutional investors own 89.23% of the company's stock.

Insider Activity

In related news, SVP Michael A. Boxer sold 2,000 shares of the company's stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the sale, the senior vice president now directly owns 12,736 shares of the company's stock, valued at $7,134,197.76. This represents a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the transaction, 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. In the last 90 days, insiders have sold 47,150 shares of company stock valued at $25,954,465. Corporate insiders own 0.34% of the company's stock.

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Thermo Fisher Scientific Trading Down 0.3 %

NYSE:TMO traded down $1.38 during midday trading on Tuesday, reaching $535.85. 1,922,088 shares of the stock traded hands, compared to its average volume of 1,536,221. The stock has a market capitalization of $204.96 billion, a P/E ratio of 33.60, a PEG ratio of 3.56 and a beta of 0.77. Thermo Fisher Scientific Inc. has a 12 month low of $491.33 and a 12 month high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The company has a fifty day moving average of $556.46 and a 200 day moving average of $575.08.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (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 company had revenue of $10.60 billion for the quarter, compared to analysts' expectations of $10.63 billion. During the same period last year, the firm earned $5.69 earnings per share. Thermo Fisher Scientific's quarterly revenue was up .2% on a year-over-year basis. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific announced that its board has authorized a stock repurchase program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's leadership believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Stephens started coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an "overweight" rating and a $680.00 price target for the company. Evercore ISI decreased their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus cut their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating for the company in a report on Thursday, October 24th. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a "buy" rating and a $680.00 target price on the stock. Finally, TD Cowen increased their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. 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 MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $649.33.

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.