Quest Partners LLC Sells 2,467 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Quest Partners LLC lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 50.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,380 shares of the medical research company's stock after selling 2,467 shares during the period. Quest Partners LLC's holdings in Thermo Fisher Scientific were worth $1,472,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC lifted its stake 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 worth $25,000 after purchasing an additional 35 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific during the third quarter worth about $27,000. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter worth about $29,000. Stephens Consulting LLC lifted its stake in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company's stock worth $30,000 after acquiring an additional 29 shares in the last quarter. Finally, Bank & Trust Co acquired a new position in shares of Thermo Fisher Scientific in the second quarter worth about $33,000. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Transactions 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 shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the transaction, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. The trade was a 13.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction dated 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 transaction, the executive vice president now owns 16,663 shares in the company, valued at approximately $9,333,946.08. This trade 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 in the last ninety days. Insiders own 0.34% of the company's stock.

Thermo Fisher Scientific Trading Up 0.7 %

TMO traded up $3.72 during trading on Wednesday, reaching $512.84. 1,533,861 shares of the company's stock were exchanged, compared to its average volume of 1,491,699. The company's fifty day moving average price is $581.75 and its 200-day moving average price is $581.46. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. Thermo Fisher Scientific Inc. has a fifty-two week low of $476.45 and a fifty-two week high of $627.88. The firm has a market capitalization of $196.16 billion, a PE ratio of 31.92, a P/E/G 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 EPS for the quarter, topping analysts' consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion during 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 quarter in the previous year, the business earned $5.69 EPS. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to reacquire up to 2% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's management believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given 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 dividend payout ratio (DPR) is presently 9.78%.

Analyst Ratings Changes

TMO has been the topic of several research reports. Barclays cut their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 23rd. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a "buy" rating and a $680.00 target price for the company. JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an "overweight" rating in a report on Friday, September 20th. Raymond James increased their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an "outperform" rating in a report on Thursday, July 25th. Finally, Wells Fargo & Company decreased their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Four 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $649.33.

Thermo Fisher Scientific Company Profile

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.