Kentucky Retirement Systems Insurance Trust Fund Sells 1,002 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Kentucky Retirement Systems Insurance Trust Fund cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 8.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,310 shares of the medical research company's stock after selling 1,002 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in Thermo Fisher Scientific were worth $6,996,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of TMO. International Assets Investment Management LLC increased its stake in shares of 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 worth $876,152,000 after purchasing an additional 1,414,556 shares during the period. Capital World Investors increased its position in Thermo Fisher Scientific by 10.0% during the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company's stock worth $7,842,762,000 after buying an additional 1,231,059 shares during the period. Swedbank AB acquired a new stake in shares of Thermo Fisher Scientific during the first quarter worth $705,636,000. Ameriprise Financial Inc. grew its stake in shares of Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company's stock valued at $1,372,157,000 after acquiring an additional 604,895 shares in the last quarter. Finally, Point72 Asset Management L.P. increased its position 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 worth $186,105,000 after acquiring an additional 296,646 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 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 value of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares of the company's stock, valued at $9,333,946.08. The trade was a 1.77 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now owns 121,192 shares of the company's stock, valued at approximately $67,175,513.68. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,150 shares of company stock worth $20,651,865 over the last three months. 0.34% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on TMO shares. JPMorgan Chase & Co. raised their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an "overweight" rating in a report on Friday, September 20th. Barclays cut their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 23rd. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a "buy" rating and a $680.00 price target on the stock. Raymond James increased their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. Finally, Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an "overweight" rating in a research report on Friday, September 20th. Four investment 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 stock. According to data from MarketBeat, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and an average price target of $649.33.

Thermo Fisher Scientific Trading Down 3.7 %

TMO traded down $19.94 during trading on Friday, reaching $513.08. 3,953,117 shares of the company's stock were exchanged, compared to its average volume of 1,474,214. The firm has a fifty day moving average price of $586.43 and a two-hundred day moving average price of $582.24. The stock has a market capitalization of $196.25 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79. Thermo Fisher Scientific Inc. has a one year low of $464.17 and a one year 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 - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the prior year, the business posted $5.69 earnings per share. Thermo Fisher Scientific's quarterly revenue was up .2% on a year-over-year basis. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current fiscal year.

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

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.30%. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 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.