Dynamic Technology Lab Private Ltd Decreases Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Dynamic Technology Lab Private Ltd decreased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 74.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,293 shares of the medical research company’s stock after selling 3,678 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Thermo Fisher Scientific were worth $800,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in TMO. International Assets Investment Management LLC grew its stake in shares of Thermo Fisher Scientific by 76,051.4% in the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after buying an additional 1,414,556 shares in the last quarter. Ameriprise Financial Inc. grew its position in Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after acquiring an additional 604,895 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Thermo Fisher Scientific during the third quarter valued at approximately $254,412,000. Point72 Asset Management L.P. boosted its stake in shares of Thermo Fisher Scientific by 743.6% in the second quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after purchasing an additional 296,646 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in Thermo Fisher Scientific by 31.9% during the 2nd quarter. Principal Financial Group Inc. now owns 1,022,270 shares of the medical research company’s stock valued at $565,316,000 after purchasing an additional 247,110 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on TMO. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Stephens started coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Bank of America increased their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Morgan Stanley lifted 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 note on Friday, September 20th. Finally, JPMorgan Chase & Co. increased 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. Four equities 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 company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Stock Up 1.7 %

TMO stock opened at $521.67 on Thursday. 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’s 50-day simple moving average is $569.98 and its 200 day simple moving average is $578.78. The stock has a market cap of $199.54 billion, a PE ratio of 32.71, a price-to-earnings-growth ratio of 3.40 and a beta of 0.79. Thermo Fisher Scientific Inc. has a fifty-two week low of $480.57 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data 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 return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the previous year, the firm posted $5.69 earnings per share. The business’s revenue was up .2% on a year-over-year basis. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, SVP Michael A. Boxer sold 2,000 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 transaction of $1,120,320.00. Following the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 9,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $552.86, for a total value of $4,975,740.00. Following the transaction, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. The trade was a 38.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is owned by corporate insiders.

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.