Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 534 shares of the medical research company’s stock after selling 34 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Thermo Fisher Scientific were worth $330,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BDF Gestion purchased a new position in Thermo Fisher Scientific in the second quarter valued at $6,368,000. Nisa Investment Advisors LLC increased its stake 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 valued at $87,093,000 after purchasing an additional 8,180 shares in the last quarter. Summit Trail Advisors LLC boosted its position in Thermo Fisher Scientific by 29.2% during the third quarter. Summit Trail Advisors LLC now owns 5,378 shares of the medical research company’s stock worth $3,329,000 after purchasing an additional 1,214 shares in the last quarter. Simplify Asset Management Inc. grew its holdings in Thermo Fisher Scientific by 67.4% in the third quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company’s stock valued at $8,518,000 after purchasing an additional 5,546 shares during the period. Finally, Simmons Bank raised its stake in shares of Thermo Fisher Scientific by 60.2% during the 3rd quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock worth $5,087,000 after buying an additional 3,090 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $512.99 on Wednesday. The business’s fifty day simple moving average is $571.75 and its 200-day simple moving average is $579.18. 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 cap of $196.22 billion, a PE ratio of 32.16, a price-to-earnings-growth ratio of 3.40 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 52 week low of $480.57 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period last year, the business earned $5.69 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock buyback program on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the company’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 transaction of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. The sale 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 business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the transaction, the chief executive officer now owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This trade represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

TMO has been the subject of several recent analyst reports. Sanford C. Bernstein cut their price target on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. raised their price target 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. Stephens initiated 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. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Morgan Stanley raised their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Four 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, Thermo Fisher Scientific currently 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.