Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Vestcor Inc

Vestcor Inc raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 10.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,031 shares of the medical research company's stock after buying an additional 1,012 shares during the period. Vestcor Inc's holdings in Thermo Fisher Scientific were worth $6,823,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. M&T Bank Corp boosted its position in Thermo Fisher Scientific by 4.2% during the 3rd quarter. M&T Bank Corp now owns 113,347 shares of the medical research company's stock valued at $70,113,000 after buying an additional 4,584 shares during the period. LRI Investments LLC raised its holdings in Thermo Fisher Scientific by 70.9% in the 3rd quarter. LRI Investments LLC now owns 434 shares of the medical research company's stock worth $268,000 after purchasing an additional 180 shares in the last quarter. Groupama Asset Managment raised its holdings in Thermo Fisher Scientific by 10.5% in the 3rd quarter. Groupama Asset Managment now owns 231,280 shares of the medical research company's stock worth $143,063,000 after purchasing an additional 22,009 shares in the last quarter. Roffman Miller Associates Inc. PA raised its holdings in Thermo Fisher Scientific by 1.8% in the 3rd quarter. Roffman Miller Associates Inc. PA now owns 35,869 shares of the medical research company's stock worth $22,187,000 after purchasing an additional 647 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its stake in shares of Thermo Fisher Scientific by 3.7% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 292,666 shares of the medical research company's stock worth $181,034,000 after acquiring an additional 10,462 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company's stock.

Insider Transactions 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 stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 121,192 shares of the company's stock, valued at approximately $67,175,513.68. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Trading Down 0.3 %

NYSE:TMO traded down $1.38 on Tuesday, reaching $535.85. 1,918,736 shares of the company's stock were exchanged, compared to its average volume of 1,536,297. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $204.96 billion, a price-to-earnings ratio of 33.60, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77. The business has a fifty day moving average of $556.46 and a 200-day moving average of $575.08. Thermo Fisher Scientific Inc. has a 52-week low of $491.33 and a 52-week high of $627.88.

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 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.25 by $0.03. The company 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 revenue for the quarter 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, analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has approved a stock buyback program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board of directors believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific's dividend payout ratio is presently 9.78%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Stephens assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an "overweight" rating and a $680.00 price target for the company. Royal Bank of Canada dropped their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a "buy" rating and a $680.00 price objective on the stock. Evercore ISI dropped their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Finally, TD Cowen raised their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 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 stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $649.33.

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.