Tealwood Asset Management Inc. Cuts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Tealwood Asset Management Inc. cut its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.8% in the 4th quarter, HoldingsChannel reports. The firm owned 2,451 shares of the medical research company’s stock after selling 70 shares during the period. Tealwood Asset Management Inc.’s holdings in Thermo Fisher Scientific were worth $1,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TMO. State Street Corp grew its position in Thermo Fisher Scientific by 0.8% in the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after acquiring an additional 124,996 shares in the last quarter. FMR LLC boosted its holdings in shares of Thermo Fisher Scientific by 19.7% in the 3rd quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock worth $4,872,761,000 after purchasing an additional 1,294,453 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after buying an additional 127,564 shares in the last quarter. Franklin Resources Inc. boosted its stake in Thermo Fisher Scientific by 5.7% in the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock worth $2,935,377,000 after buying an additional 262,062 shares in the last quarter. Finally, Fisher Asset Management LLC grew its position in Thermo Fisher Scientific by 2.6% during the third quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock valued at $1,630,896,000 after acquiring an additional 65,586 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the sale, the chief executive officer now directly owns 121,192 shares in the company, valued at approximately $67,175,513.68. This represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction 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 in the company, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 47,150 shares of company stock valued at $25,954,465 in the last ninety days. 0.34% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on TMO shares. Evercore ISI reduced their target price 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. Sanford C. Bernstein upgraded Thermo Fisher Scientific from a “market perform” rating to an “outperform” rating and set a $630.00 price target on the stock in a report on Friday. Robert W. Baird lowered their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Morgan Stanley reduced their price target on shares of Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a research report on Monday. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $648.95.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO opened at $555.91 on Tuesday. The firm has a fifty day simple moving average of $529.92 and a two-hundred day simple moving average of $568.10. 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 stock has a market capitalization of $212.64 billion, a P/E ratio of 34.85, a PEG ratio of 3.54 and a beta of 0.76. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 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, beating analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the business posted $5.69 earnings per share. On average, analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued 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 0.28%. Thermo Fisher Scientific’s payout ratio is 9.78%.

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

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.