Thermo Fisher Scientific Inc. (NYSE:TMO) is In Depth Partners LLC’s 9th Largest Position

In Depth Partners LLC lowered its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 28.4% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 7,771 shares of the medical research company’s stock after selling 3,089 shares during the period. Thermo Fisher Scientific comprises approximately 5.0% of In Depth Partners LLC’s investment portfolio, making the stock its 9th biggest holding. In Depth Partners LLC’s holdings in Thermo Fisher Scientific were worth $4,807,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in TMO. FMR LLC boosted its position in Thermo Fisher Scientific by 19.7% during the third 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 during the period. Fisher Asset Management LLC boosted 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 worth $1,630,896,000 after purchasing an additional 65,586 shares during the period. Ameriprise Financial Inc. boosted its position in Thermo Fisher Scientific by 32.2% during the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after purchasing an additional 604,895 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Thermo Fisher Scientific by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,443,937 shares of the medical research company’s stock worth $1,511,746,000 after purchasing an additional 61,017 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Thermo Fisher Scientific by 0.9% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,163,487 shares of the medical research company’s stock worth $1,338,268,000 after purchasing an additional 19,536 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.2 %

Shares of Thermo Fisher Scientific stock traded down $0.90 on Tuesday, hitting $529.05. The stock had a trading volume of 427,657 shares, compared to its average volume of 1,511,328. The stock has a market cap of $202.36 billion, a price-to-earnings ratio of 33.23, a PEG ratio of 3.50 and a beta of 0.77. The stock’s 50-day simple moving average is $566.33 and its two-hundred day simple moving average is $577.69. Thermo Fisher Scientific Inc. has a one year low of $487.06 and a one year high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate 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 net margin of 14.48% and a return on equity of 17.49%. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.69 earnings per share. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business 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 $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.78%.

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

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on TMO. Stifel Nicolaus cut their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Bernstein Bank increased their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Wells Fargo & Company lowered their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. Finally, Morgan Stanley increased their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Four 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’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Insider Activity at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, October 25th. The shares were 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 in the company, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the sale, the chief executive officer now owns 121,192 shares in the company, 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. Insiders have sold a total of 37,150 shares of company stock worth $20,651,865 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

About Thermo Fisher Scientific

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.