Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 0.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 789,193 shares of the medical research company's stock after selling 2,635 shares during the quarter. Thermo Fisher Scientific comprises about 2.1% of King Luther Capital Management Corp's investment portfolio, making the stock its 7th biggest position. King Luther Capital Management Corp owned approximately 0.21% of Thermo Fisher Scientific worth $488,171,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. BDF Gestion acquired a new position in Thermo Fisher Scientific during the 2nd quarter valued at about $6,368,000. Nisa Investment Advisors LLC lifted its holdings in shares of Thermo Fisher Scientific by 6.2% during the third quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company's stock worth $87,093,000 after buying an additional 8,180 shares in the last quarter. Simplify Asset Management Inc. boosted its holdings in shares of Thermo Fisher Scientific by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company's stock valued at $8,518,000 after purchasing an additional 5,546 shares in the last quarter. Simmons Bank grew its holdings in Thermo Fisher Scientific by 60.2% during the 3rd quarter. Simmons Bank now owns 8,224 shares of the medical research company's stock worth $5,087,000 after acquiring an additional 3,090 shares during the last quarter. Finally, ORG Partners LLC boosted its position in shares of Thermo Fisher Scientific by 216.6% during the 2nd quarter. ORG Partners LLC now owns 1,640 shares of the medical research company's stock worth $890,000 after purchasing an additional 1,122 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Up 0.7 %

Shares of TMO opened at $512.86 on Thursday. The firm 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 12-month low of $476.45 and a 12-month high of $627.88. The firm has a fifty day moving average price of $579.63 and a 200-day moving average price of $580.98. 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 (NYSE:TMO - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to the consensus estimate 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 was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.69 earnings per share. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share repurchase plan on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

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

Insider Buying and Selling at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the business'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 $1,120,320.00. Following the sale, the senior vice president now owns 12,736 shares in the company, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business'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 transaction of $168,048.00. Following the sale, the executive vice president now directly 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. Insiders have sold 37,150 shares of company stock worth $20,651,865 over the last quarter. Insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

TMO has been the topic of a number of analyst reports. Redburn Atlantic started coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They set a "buy" rating and a $680.00 price objective on the stock. Wells Fargo & Company dropped their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an "overweight" rating for the company in a research report on Thursday, October 24th. Bernstein Bank boosted their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a "market perform" rating in a research report on Tuesday, October 22nd. Morgan Stanley increased their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an "overweight" rating in a research note on Friday, September 20th. Finally, Barclays reduced their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating for the company in a research report on Wednesday, October 23rd. Four 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, the company currently has a consensus rating of "Moderate Buy" and an average price target of $649.33.

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.