Connor Clark & Lunn Investment Management Ltd. cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 65.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,276 shares of the medical research company's stock after selling 72,810 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.'s holdings in Thermo Fisher Scientific were worth $23,676,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of TMO. Signature Resources Capital Management LLC increased its stake in Thermo Fisher Scientific by 318.2% during the 2nd 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 period. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at approximately $27,000. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth $29,000. Stephens Consulting LLC grew its holdings in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company's stock valued at $30,000 after purchasing an additional 29 shares during the last quarter. Finally, Bank & Trust Co acquired a new stake in shares of Thermo Fisher Scientific during the second quarter valued at $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.
Thermo Fisher Scientific Stock Down 0.4 %
NYSE TMO traded down $2.05 on Thursday, reaching $510.79. 222,515 shares of the stock traded hands, compared to its average volume of 1,486,084. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The company has a market cap of $195.38 billion, a price-to-earnings ratio of 32.15, a PEG ratio of 3.37 and a beta of 0.79. The company has a fifty day moving average price of $579.63 and a 200-day moving average price of $580.98. Thermo Fisher Scientific Inc. has a 12 month low of $480.57 and a 12 month high of $627.88.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating 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 analyst estimates of $10.63 billion. During the same period last year, the company earned $5.69 earnings per share. Thermo Fisher Scientific's quarterly revenue was up .2% compared to the same quarter last year. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.
Thermo Fisher Scientific Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.31%. Thermo Fisher Scientific's dividend payout ratio is currently 9.78%.
Thermo Fisher Scientific declared that its Board of Directors has initiated a share repurchase plan on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.
Analyst Ratings Changes
Several analysts have recently issued reports on TMO shares. JPMorgan Chase & Co. boosted their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an "overweight" rating in a research note on Friday, September 20th. Morgan Stanley upped their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an "overweight" rating in a research report on Friday, September 20th. Robert W. Baird lowered their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus reduced their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Finally, Stephens started coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an "overweight" rating and a $680.00 price objective on the stock. 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $649.33.
View Our Latest Report on Thermo Fisher Scientific
Insider Buying and Selling
In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred 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. The trade was a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. The trade was a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 37,150 shares of company stock valued at $20,651,865. Corporate insiders own 0.34% of the company's stock.
Thermo Fisher Scientific Company 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.
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