Thermo Fisher Scientific Inc. (NYSE:TMO) Stake Cut by Parnassus Investments LLC

Parnassus Investments LLC lowered its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 3.1% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,127,870 shares of the medical research company's stock after selling 35,837 shares during the period. Thermo Fisher Scientific accounts for approximately 1.5% of Parnassus Investments LLC's holdings, making the stock its 27th largest position. Parnassus Investments LLC owned about 0.29% of Thermo Fisher Scientific worth $697,667,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in TMO. International Assets Investment Management LLC raised its position in shares of Thermo Fisher Scientific by 76,051.4% in the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company's stock valued at $876,152,000 after buying an additional 1,414,556 shares in the last quarter. Capital World Investors boosted its position in Thermo Fisher Scientific by 10.0% during the first quarter. Capital World Investors now owns 13,493,852 shares of the medical research company's stock valued at $7,842,762,000 after acquiring an additional 1,231,059 shares during the last quarter. Swedbank AB acquired a new position in shares of Thermo Fisher Scientific during the first quarter valued at about $705,636,000. Ameriprise Financial Inc. raised its holdings in shares of Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company's stock worth $1,372,157,000 after acquiring an additional 604,895 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Thermo Fisher Scientific in the 3rd quarter valued at about $254,412,000. Institutional investors own 89.23% of the company's stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the business'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 directly owns 16,663 shares in the company, valued at $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the sale, the chief executive officer now owns 14,608 shares in the company, valued at $8,076,178.88. This represents a 38.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on TMO. UBS Group upgraded Thermo Fisher Scientific to a "strong-buy" rating in a research note on Monday, September 16th. Barclays decreased their price objective on 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. Bernstein Bank raised their price target 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. Morgan Stanley upped their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an "overweight" rating in a report on Friday, September 20th. Finally, Wells Fargo & Company reduced their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Four equities research 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's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $649.33.

Thermo Fisher Scientific Trading Up 1.6 %

NYSE TMO traded up $7.85 during trading hours on Tuesday, reaching $509.15. The company had a trading volume of 3,625,174 shares, compared to its average volume of 1,491,361. The stock has a 50-day moving average of $584.05 and a 200 day moving average of $581.90. Thermo Fisher Scientific Inc. has a 1-year low of $465.90 and a 1-year high of $627.88. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $194.75 billion, a P/E ratio of 31.44, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79.

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 for the quarter, topping analysts' consensus estimates of $5.25 by $0.03. The firm 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 business's quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.69 earnings per share. As a group, research 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 share repurchase program on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The business 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. This represents a $1.56 annualized dividend and a dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific's dividend payout ratio is presently 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.