Nuance Investments LLC decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 42.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,400 shares of the medical research company's stock after selling 5,450 shares during the quarter. Nuance Investments LLC's holdings in Thermo Fisher Scientific were worth $4,577,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Signature Resources Capital Management LLC boosted its position in shares of 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 valued at $25,000 after buying an additional 35 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in Thermo Fisher Scientific in the third quarter worth about $27,000. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific in the second quarter worth about $29,000. Stephens Consulting LLC lifted its position in shares of Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company's stock valued at $30,000 after buying an additional 29 shares in the last quarter. Finally, Bank & Trust Co purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $33,000. 89.23% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several analysts recently issued reports on TMO shares. Stifel Nicolaus decreased their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. TD Cowen boosted their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada cut their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Bank of America boosted their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a "buy" rating in a report on Monday, September 16th. Finally, Bernstein Bank boosted their price objective 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. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $649.33.
Read Our Latest Research Report on TMO
Thermo Fisher Scientific Stock Performance
Shares of TMO traded up $3.74 during midday trading on Wednesday, reaching $512.86. 1,533,866 shares of the stock were exchanged, compared to its average volume of 1,491,699. 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 business's 50-day moving average price is $581.75 and its 200 day moving average price is $581.46. Thermo Fisher Scientific Inc. has a twelve month low of $476.45 and a twelve month high of $627.88. The company has a market capitalization of $196.17 billion, a price-to-earnings ratio of 31.92, a PEG 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 (EPS) for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company had revenue of $10.60 billion for the quarter, compared to analysts' expectations of $10.63 billion. During the same quarter in the previous year, the firm posted $5.69 EPS. The firm's quarterly revenue was up .2% on a year-over-year basis. On average, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.
Thermo Fisher Scientific Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific's payout ratio is currently 9.78%.
Thermo Fisher Scientific announced that its board has authorized a share buyback plan on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its stock is undervalued.
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 dated 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the sale, the executive vice president now owns 16,663 shares of the company's stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is owned by corporate insiders.
About Thermo Fisher Scientific
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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.
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