Primecap Management Co. CA Has $1.59 Billion Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Primecap Management Co. CA lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,574,877 shares of the medical research company's stock after selling 92,060 shares during the quarter. Thermo Fisher Scientific comprises approximately 1.2% of Primecap Management Co. CA's holdings, making the stock its 22nd largest holding. Primecap Management Co. CA owned 0.67% of Thermo Fisher Scientific worth $1,592,742,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in TMO. Intech Investment Management LLC grew its position in Thermo Fisher Scientific by 8.8% in the third quarter. Intech Investment Management LLC now owns 3,417 shares of the medical research company's stock valued at $2,114,000 after acquiring an additional 275 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of Thermo Fisher Scientific by 4.5% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 180,801 shares of the medical research company's stock worth $111,838,000 after purchasing an additional 7,727 shares in the last quarter. Citizens Financial Group Inc. RI lifted its holdings in Thermo Fisher Scientific by 1.6% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 27,816 shares of the medical research company's stock valued at $17,212,000 after purchasing an additional 443 shares during the last quarter. Altman Advisors Inc. acquired a new stake in shares of Thermo Fisher Scientific during the third quarter worth approximately $1,726,000. Finally, Darwin Wealth Management LLC bought a new position in shares of Thermo Fisher Scientific in the third quarter valued at approximately $270,000. 89.23% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares of the company's stock, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 9,000 shares of the business'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 transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on TMO. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They issued a "buy" rating and a $680.00 price target for the company. Robert W. Baird lowered their price target 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. Morgan Stanley increased their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an "overweight" rating in a research report on Friday, September 20th. Bernstein Bank raised their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a "market perform" rating in a report on Tuesday, October 22nd. Finally, Raymond James upped their target price on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an "outperform" rating in a research report on Thursday, July 25th. Four research 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 company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $649.33.

Thermo Fisher Scientific Stock Up 0.7 %

TMO stock opened at $512.86 on Thursday. The business has a 50-day moving average of $579.63 and a 200-day moving average of $580.98. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The stock has a market capitalization of $196.17 billion, a P/E ratio of 32.15, a P/E/G ratio of 3.37 and a beta of 0.79. Thermo Fisher Scientific Inc. has a fifty-two week low of $476.45 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts' consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analysts' expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $5.69 earnings per share. On average, sell-side analysts anticipate 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 initiated a stock repurchase program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

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

About Thermo Fisher Scientific

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.

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.