Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 141,691 shares of the medical research company’s stock after selling 12,421 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Thermo Fisher Scientific were worth $87,646,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in TMO. Kolinsky Wealth Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 2.4% in the 3rd quarter. Kolinsky Wealth Management LLC now owns 1,893 shares of the medical research company’s stock valued at $1,171,000 after buying an additional 45 shares during the period. Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Thermo Fisher Scientific by 116.0% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 344,068 shares of the medical research company’s stock worth $212,830,000 after purchasing an additional 184,797 shares in the last quarter. Fred Alger Management LLC purchased a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $1,274,000. Skye Global Management LP boosted its holdings in Thermo Fisher Scientific by 9.1% during the third quarter. Skye Global Management LP now owns 60,000 shares of the medical research company’s stock worth $37,114,000 after buying an additional 5,000 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its holdings in Thermo Fisher Scientific by 0.8% in the third quarter. Rockefeller Capital Management L.P. now owns 244,851 shares of the medical research company’s stock valued at $151,432,000 after buying an additional 1,966 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $529.63 on Friday. Thermo Fisher Scientific Inc. has a one year low of $487.06 and a one year high of $627.88. The company has a 50 day moving average price of $566.33 and a 200 day moving average price of $577.96. The firm has a market capitalization of $202.58 billion, a price-to-earnings ratio of 33.21, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last issued its 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. The firm 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 firm’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $5.69 earnings per share. Sell-side analysts anticipate 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 given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

Thermo Fisher Scientific declared that its board has approved 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 purchase up to 2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research firms recently weighed in on TMO. Sanford C. Bernstein dropped their price objective on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Bank of America raised their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Stephens began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price for the company. Finally, Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $649.33.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 12,736 shares in the company, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,150 shares of company stock valued at $20,651,865 in the last ninety days. Insiders own 0.34% of the company’s stock.

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.