Zurcher Kantonalbank Zurich Cantonalbank Sells 44,169 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 280,291 shares of the medical research company’s stock after selling 44,169 shares during the quarter. Thermo Fisher Scientific makes up 0.5% of Zurcher Kantonalbank Zurich Cantonalbank’s holdings, making the stock its 26th biggest position. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Thermo Fisher Scientific were worth $173,380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. BDF Gestion purchased a new stake in Thermo Fisher Scientific in the second quarter worth $6,368,000. Nisa Investment Advisors LLC grew its stake in shares of Thermo Fisher Scientific by 6.2% during 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 during the period. Summit Trail Advisors LLC raised its stake in Thermo Fisher Scientific by 29.2% in the 3rd quarter. Summit Trail Advisors LLC now owns 5,378 shares of the medical research company’s stock valued at $3,329,000 after acquiring an additional 1,214 shares during the period. Simplify Asset Management Inc. lifted its holdings in Thermo Fisher Scientific by 67.4% during 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 last quarter. Finally, Simmons Bank increased its stake in shares of Thermo Fisher Scientific by 60.2% in the third quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock worth $5,087,000 after purchasing an additional 3,090 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 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 transaction of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,150 shares of company stock worth $20,651,865 over the last three months. Company insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the subject of several analyst reports. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Stifel Nicolaus cut their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Wells Fargo & Company decreased their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Barclays cut their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. Finally, Evercore ISI lowered their price target 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. Four 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. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Trading Up 1.7 %

NYSE TMO opened at $521.67 on Thursday. The stock’s 50-day simple moving average is $569.98 and its two-hundred day simple moving average is $578.78. Thermo Fisher Scientific Inc. has a twelve month low of $480.57 and a twelve month 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. The company has a market capitalization of $199.54 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 3.40 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 the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. Thermo Fisher Scientific’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.69 earnings per share. Research analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board 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 purchase up to 2% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

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

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.