Wellington Management Group LLP Reduces Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Wellington Management Group LLP lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 16.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,528,637 shares of the medical research company's stock after selling 497,243 shares during the quarter. Wellington Management Group LLP owned approximately 0.66% of Thermo Fisher Scientific worth $1,564,139,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Wahed Invest LLC lifted its position in shares of Thermo Fisher Scientific by 11.0% during the third quarter. Wahed Invest LLC now owns 9,176 shares of the medical research company's stock worth $5,676,000 after purchasing an additional 908 shares in the last quarter. Two Sigma Advisers LP lifted its holdings in Thermo Fisher Scientific by 35.7% during the 3rd quarter. Two Sigma Advisers LP now owns 514,000 shares of the medical research company's stock worth $317,945,000 after buying an additional 135,300 shares in the last quarter. Temasek Holdings Private Ltd raised its holdings in Thermo Fisher Scientific by 0.3% during the 3rd quarter. Temasek Holdings Private Ltd now owns 1,071,180 shares of the medical research company's stock worth $662,600,000 after purchasing an additional 2,813 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc grew its position in shares of Thermo Fisher Scientific by 3.6% during the 3rd quarter. Texas Capital Bank Wealth Management Services Inc now owns 802 shares of the medical research company's stock worth $496,000 after buying an additional 28 shares during the period. Finally, State Street Corp raised its position in shares of Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company's stock valued at $10,100,655,000 after acquiring an additional 124,996 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Michael A. Boxer sold 2,000 shares of the firm's 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 $1,120,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,736 shares of the company's stock, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on 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 in the company, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently commented on TMO. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They set a "buy" rating and a $680.00 price objective on the stock. Royal Bank of Canada dropped their target price 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. Morgan Stanley lifted their price objective 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. Stifel Nicolaus decreased their price target on shares of 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. Finally, Barclays dropped 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. Four investment 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's stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of "Moderate Buy" and a consensus price target of $649.33.

Thermo Fisher Scientific Stock Up 1.6 %

Shares of NYSE TMO traded up $8.50 during midday trading on Friday, hitting $529.36. 1,869,732 shares of the stock traded hands, compared to its average volume of 2,146,533. Thermo Fisher Scientific Inc. has a one year low of $488.02 and a one year high of $627.88. The business has a 50 day moving average price of $559.78 and a two-hundred day moving average price of $576.07. 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 $202.48 billion, a PE ratio of 33.19, a P/E/G ratio of 3.56 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted 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 net margin of 14.48% and a return on equity of 17.49%. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the prior year, the business posted $5.69 EPS. The business's revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 0.29%. Thermo Fisher Scientific's payout ratio is currently 9.78%.

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.