Ieq Capital LLC Reduces Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Ieq Capital LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 4.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,171 shares of the medical research company's stock after selling 1,562 shares during the period. Ieq Capital LLC's holdings in Thermo Fisher Scientific were worth $19,338,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in TMO. State Street Corp lifted its position in shares of Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company's stock worth $10,100,655,000 after buying an additional 124,996 shares in the last quarter. FMR LLC increased its position in shares of Thermo Fisher Scientific by 19.7% during the third 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 last quarter. Geode Capital Management LLC boosted its position in Thermo Fisher Scientific by 1.7% in the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company's stock worth $4,719,477,000 after purchasing an additional 127,564 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Thermo Fisher Scientific by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company's stock valued at $2,935,377,000 after purchasing an additional 262,062 shares during the last quarter. Finally, Fisher Asset Management LLC raised its stake in shares of Thermo Fisher Scientific by 2.6% during the 3rd quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company's stock worth $1,630,896,000 after purchasing an additional 65,586 shares during the period. Institutional investors own 89.23% of the company's stock.

Thermo Fisher Scientific Trading Down 0.8 %

Shares of NYSE TMO traded down $4.20 during midday trading on Friday, reaching $533.63. The company had a trading volume of 902,026 shares, compared to its average volume of 2,063,640. The firm's fifty day moving average price is $548.36 and its 200-day moving average price is $568.15. The company has a quick ratio of 1.29, a current ratio of 1.66 and a debt-to-equity ratio of 0.59. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. The stock has a market cap of $204.11 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 2.95 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Thursday, January 30th. The medical research company reported $6.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.78% and a return on equity of 17.51%. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date is Friday, March 14th. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.39. Thermo Fisher Scientific's payout ratio is currently 9.44%.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on TMO. Robert W. Baird lowered their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Royal Bank of Canada dropped their price objective on 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. Wells Fargo & Company raised their target price on Thermo Fisher Scientific from $660.00 to $680.00 and gave the stock an "overweight" rating in a research report on Friday, January 31st. Stifel Nicolaus dropped their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Finally, Morgan Stanley boosted their price objective on Thermo Fisher Scientific from $647.00 to $678.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $658.00.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $175,677.00. Following the sale, the executive vice president now owns 16,363 shares of the company's stock, valued at $9,582,009.17. The trade was a 1.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Stephen Williamson sold 9,825 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $585.59, for a total transaction of $5,753,421.75. Following the transaction, the chief financial officer now owns 27,296 shares of the company's stock, valued at $15,984,264.64. The trade was a 26.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,125 shares of company stock valued at $11,231,699 in the last 90 days. Insiders own 0.34% of the company's stock.

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.