Toronto Dominion Bank Buys 13,319 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Toronto Dominion Bank increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 6.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 216,871 shares of the medical research company's stock after purchasing an additional 13,319 shares during the quarter. Toronto Dominion Bank owned 0.06% of Thermo Fisher Scientific worth $134,150,000 as of its most recent filing with the SEC.

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 position 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 purchasing an additional 35 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in Thermo Fisher Scientific in the 3rd quarter worth approximately $26,000. Peterson Financial Group Inc. purchased a new position in Thermo Fisher Scientific in the 3rd quarter worth approximately $27,000. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Finally, Stephens Consulting LLC boosted its holdings in Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company's stock worth $30,000 after acquiring an additional 29 shares during the period. Institutional investors and hedge funds own 89.23% of the company's stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO traded up $0.24 during trading hours on Wednesday, reaching $536.09. 805,897 shares of the company's stock traded hands, compared to its average volume of 1,533,134. The firm has a market capitalization of $205.05 billion, a price-to-earnings ratio of 33.61, a P/E/G ratio of 3.56 and a beta of 0.77. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. Thermo Fisher Scientific Inc. has a twelve month low of $491.47 and a twelve month high of $627.88. The business's fifty day simple moving average is $554.92 and its two-hundred day simple moving average is $574.74.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts' consensus estimates 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. The company's quarterly revenue was up .2% compared to the same quarter last year. Analysts predict that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific announced that its board 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 repurchase up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The company 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 dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.29%. Thermo Fisher Scientific's dividend payout ratio is currently 9.78%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm'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 $168,048.00. Following the completion of the sale, the executive vice president now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the sale, the chief executive officer now owns 111,192 shares of the company's stock, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 47,150 shares of company stock valued at $25,954,465 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

TMO has been the subject of a number of analyst reports. Barclays decreased their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating for the company in a report on Wednesday, October 23rd. Wells Fargo & Company reduced their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an "overweight" rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. increased their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an "overweight" rating in a research note on Friday, September 20th. UBS Group upgraded Thermo Fisher Scientific to a "strong-buy" rating in a research note on Monday, September 16th. Finally, Evercore ISI reduced their target price on Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $649.33.

Thermo Fisher Scientific 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.