Cantillon Capital Management LLC lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 2.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 799,000 shares of the medical research company's stock after selling 23,838 shares during the period. Thermo Fisher Scientific accounts for about 3.0% of Cantillon Capital Management LLC's portfolio, making the stock its 13th largest position. Cantillon Capital Management LLC owned approximately 0.21% of Thermo Fisher Scientific worth $494,237,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also recently bought and sold shares of TMO. Signature Resources Capital Management LLC raised its holdings in Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company's stock worth $25,000 after buying an additional 35 shares during the last quarter. Peterson Financial Group Inc. bought a new position in Thermo Fisher Scientific during the third quarter valued at about $27,000. New Millennium Group LLC bought a new position in Thermo Fisher Scientific during the second quarter worth about $29,000. Stephens Consulting LLC boosted its position in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company's stock worth $30,000 after purchasing an additional 29 shares during the period. Finally, Bank & Trust Co bought a new position in Thermo Fisher Scientific during the second quarter worth about $33,000. Institutional investors and hedge funds own 89.23% of the company's stock.
Insider Transactions at Thermo Fisher Scientific
In other 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 transaction of $4,975,740.00. Following the transaction, the chief executive officer now owns 14,608 shares in the company, valued at approximately $8,076,178.88. This trade represents a 38.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction on Friday, October 25th. The shares were 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 in the company, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is currently owned by insiders.
Thermo Fisher Scientific Stock Up 1.6 %
Thermo Fisher Scientific stock traded up $7.85 during mid-day trading on Tuesday, reaching $509.15. The stock had a trading volume of 3,625,174 shares, compared to its average volume of 1,491,361. The company has a market capitalization of $194.75 billion, a price-to-earnings ratio of 31.92, a PEG ratio of 3.39 and a beta of 0.79. The company has a 50-day moving average price of $581.75 and a two-hundred day moving average price of $581.46. Thermo Fisher Scientific Inc. has a one year low of $465.90 and a one year high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same period in the prior year, the firm posted $5.69 EPS. The firm's quarterly revenue was up .2% compared to the same quarter last year. On average, analysts expect that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.
Thermo Fisher Scientific declared that its board has initiated a stock repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors 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 given a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.31%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.78%.
Analyst Ratings Changes
TMO has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating on the stock in a report on Wednesday, October 23rd. Sanford C. Bernstein lowered their price target on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a "market perform" rating on the stock in a report on Thursday, October 24th. Morgan Stanley increased their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an "overweight" rating in a report on Friday, September 20th. Bank of America raised their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a "buy" rating in a research note on Monday, September 16th. Finally, Stephens started coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an "overweight" rating and a $680.00 target price on the stock. Four equities research 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. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $649.33.
Check Out Our Latest Stock Analysis on Thermo Fisher Scientific
Thermo Fisher Scientific Profile
(
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.
Further Reading
Before you consider Thermo Fisher Scientific, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Thermo Fisher Scientific wasn't on the list.
While Thermo Fisher Scientific currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Click the link below to learn more about how your portfolio could bloom.
Get This Free Report
