Lord Abbett & CO. LLC cut its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,277 shares of the medical research company's stock after selling 2,758 shares during the quarter. Lord Abbett & CO. LLC's holdings in Thermo Fisher Scientific were worth $47,802,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Legacy Investment Solutions LLC acquired a new position in shares of Thermo Fisher Scientific during the third quarter worth approximately $26,000. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $27,000. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at $29,000. Stephens Consulting LLC increased 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 buying an additional 29 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth about $50,000. 89.23% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the stock. Royal Bank of Canada cut their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Robert W. Baird lowered their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Stephens began coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an "overweight" rating and a $680.00 target price for the company. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a "buy" rating and a $680.00 target price on the stock. Finally, TD Cowen upped their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $652.30.
View Our Latest Stock Analysis on Thermo Fisher Scientific
Thermo Fisher Scientific Trading Up 0.4 %
NYSE:TMO traded up $2.28 during mid-day trading on Friday, hitting $526.89. 1,553,525 shares of the company's stock were exchanged, compared to its average volume of 2,312,332. 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 Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The company has a 50 day simple moving average of $550.39 and a 200-day simple moving average of $573.72. The firm has a market capitalization of $201.54 billion, a P/E ratio of 33.03, a PEG ratio of 3.54 and a beta of 0.77.
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. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. Thermo Fisher Scientific's quarterly revenue was up .2% on a year-over-year basis. During the same period in the prior year, the business posted $5.69 earnings per share. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share 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. 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 dividend on an annualized basis and a yield of 0.30%. Thermo Fisher Scientific's payout ratio is currently 9.78%.
Thermo Fisher Scientific declared that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.
Insiders Place Their Bets
In other news, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Michael A. Boxer sold 2,000 shares of the company's stock in a transaction that occurred 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 transaction, the senior vice president now directly 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 three months, insiders have sold 47,150 shares of company stock worth $25,954,465. Corporate insiders own 0.34% of the company's stock.
About Thermo Fisher Scientific
(
Free Report)
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.
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