Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC decreased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,127,870 shares of the medical research company’s stock after selling 35,837 shares during the quarter. Thermo Fisher Scientific accounts for approximately 1.5% of Parnassus Investments LLC’s holdings, making the stock its 27th largest position. Parnassus Investments LLC’s holdings in Thermo Fisher Scientific were worth $697,667,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. BDF Gestion acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $6,368,000. Nisa Investment Advisors LLC grew its position in shares of Thermo Fisher Scientific by 6.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock worth $87,093,000 after acquiring an additional 8,180 shares in the last quarter. Simplify Asset Management Inc. grew its position in shares of Thermo Fisher Scientific by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company’s stock worth $8,518,000 after acquiring an additional 5,546 shares in the last quarter. Seven Eight Capital LP acquired a new position in shares of Thermo Fisher Scientific in the 1st quarter worth approximately $1,161,000. Finally, Simmons Bank grew its position in shares of Thermo Fisher Scientific by 60.2% in the 3rd quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock worth $5,087,000 after acquiring an additional 3,090 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling

In related news, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, November 8th. The stock was 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 in the company, valued at $8,076,178.88. The trade was a 38.12 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific 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 transaction, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. This represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock worth $20,651,865 in the last three months. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Down 2.3 %

TMO opened at $501.50 on Tuesday. Thermo Fisher Scientific Inc. has a one year low of $465.90 and a one year high of $627.88. 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 stock’s fifty day moving average is $584.05 and its 200-day moving average is $581.90. The company has a market capitalization of $191.82 billion, a PE ratio of 31.44, a P/E/G ratio of 3.39 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last issued its 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 business had revenue of $10.60 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the firm posted $5.69 EPS. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to buy up to 2% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

Analysts Set New Price Targets

A number of research firms recently issued reports on TMO. Bernstein Bank boosted their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Robert W. Baird reduced their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Raymond James boosted their price objective on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Stephens began coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target 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.