Portfolio Design Labs LLC Lowers Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Portfolio Design Labs LLC cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 70.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,449 shares of the medical research company's stock after selling 3,429 shares during the quarter. Portfolio Design Labs LLC's holdings in Thermo Fisher Scientific were worth $896,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in TMO. Advisors Asset Management Inc. boosted its stake in Thermo Fisher Scientific by 5.7% during the third quarter. Advisors Asset Management Inc. now owns 21,703 shares of the medical research company's stock worth $13,425,000 after buying an additional 1,179 shares in the last quarter. Kirtland Hills Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 10.6% during the 3rd quarter. Kirtland Hills Capital Management LLC now owns 2,180 shares of the medical research company's stock worth $1,349,000 after acquiring an additional 209 shares during the period. Commerce Bank increased its stake in Thermo Fisher Scientific by 0.7% in the third quarter. Commerce Bank now owns 229,601 shares of the medical research company's stock valued at $142,024,000 after acquiring an additional 1,534 shares during the period. Strategy Asset Managers LLC raised its position in Thermo Fisher Scientific by 31.4% in the third quarter. Strategy Asset Managers LLC now owns 2,195 shares of the medical research company's stock worth $1,358,000 after purchasing an additional 524 shares in the last quarter. Finally, Segall Bryant & Hamill LLC lifted its stake in Thermo Fisher Scientific by 117.7% during the third quarter. Segall Bryant & Hamill LLC now owns 44,701 shares of the medical research company's stock worth $27,651,000 after purchasing an additional 24,170 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Up 0.7 %

TMO traded up $3.74 during trading on Wednesday, hitting $512.86. 1,533,866 shares of the company's stock were exchanged, compared to its average volume of 1,491,699. The stock has a market cap of $196.17 billion, a P/E ratio of 31.92, a PEG ratio of 3.39 and a beta of 0.79. The business's 50 day moving average is $581.75 and its two-hundred day moving average is $581.46. Thermo Fisher Scientific Inc. has a fifty-two week low of $476.45 and a fifty-two week high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its quarterly earnings results 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 company 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%. The firm's revenue was up .2% on a year-over-year basis. During the same period last year, the firm earned $5.69 earnings per share. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has approved a stock repurchase program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's leadership believes its shares are undervalued.

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 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific's payout ratio is 9.78%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of the firm's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,608 shares of the company's stock, valued at $8,076,178.88. This trade represents a 38.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on TMO. Robert W. Baird dropped their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Redburn Atlantic began coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a "buy" rating and a $680.00 price objective for the company. Raymond James increased their target price on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. boosted their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an "overweight" rating in a research report on Friday, September 20th. Finally, Bernstein Bank raised their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $649.33.

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.