Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 7.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,612 shares of the medical research company's stock after selling 2,153 shares during the period. Kentucky Retirement Systems' holdings in Thermo Fisher Scientific were worth $16,461,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Signature Resources Capital Management LLC increased its position in Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company's stock worth $25,000 after purchasing an additional 35 shares during the period. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific during the 2nd quarter worth about $29,000. Stephens Consulting LLC lifted its holdings in Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company's stock valued at $30,000 after purchasing an additional 29 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Thermo Fisher Scientific during the 1st quarter worth about $32,000. Finally, Bank & Trust Co acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Wall Street Analysts Forecast Growth

TMO has been the topic of a number of recent analyst reports. Raymond James increased their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an "outperform" rating in a research note on Thursday, July 25th. TD Cowen raised their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Sanford C. Bernstein dropped their price objective on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a "market perform" rating for the company in a research note on Thursday, October 24th. Barclays decreased their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating on the stock in a research report on Wednesday, October 23rd. Finally, UBS Group raised shares of Thermo Fisher Scientific to a "strong-buy" rating in a research note on Monday, September 16th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of "Moderate Buy" and a consensus price target of $649.33.

Insider Buying and Selling

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the business'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 $1,120,320.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm'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 $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,150 shares of company stock worth $20,651,865. Insiders own 0.34% of the company's stock.

Thermo Fisher Scientific Stock Down 3.7 %

NYSE:TMO traded down $19.94 during trading hours on Friday, hitting $513.08. The stock had a trading volume of 3,953,117 shares, compared to its average volume of 1,474,214. The business has a 50 day simple moving average of $586.43 and a two-hundred day simple moving average of $582.24. Thermo Fisher Scientific Inc. has a 1-year low of $464.17 and a 1-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. The company has a market cap 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 (NYSE:TMO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts' consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion for 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%. During the same quarter in the previous year, the business posted $5.69 EPS. The firm's revenue was up .2% compared to the same quarter last year. Analysts predict that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific's dividend payout ratio (DPR) is currently 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has approved a share buyback 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 purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

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.