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

Harvest Fund Management Co. Ltd reduced its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund 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 reporting period.

Several other large investors have also recently bought and sold shares of the business. International Assets Investment Management LLC raised its position in shares of Thermo Fisher Scientific by 76,051.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock worth $876,152,000 after acquiring an additional 1,414,556 shares in the last quarter. Swedbank AB acquired a new stake in Thermo Fisher Scientific during the first quarter worth approximately $705,636,000. Ameriprise Financial Inc. lifted its position in shares of Thermo Fisher Scientific by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after buying an additional 604,895 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at $254,412,000. Finally, Point72 Asset Management L.P. raised its stake in Thermo Fisher Scientific by 743.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock worth $186,105,000 after acquiring an additional 296,646 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 9,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the sale, the chief executive officer now owns 14,608 shares of the company’s stock, valued at $8,076,178.88. This trade represents a 38.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. The trade was a 1.77 % 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 valued at $20,651,865. 0.34% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $512.99 on Wednesday. Thermo Fisher Scientific Inc. has a 12 month low of $480.57 and a 12 month high of $627.88. The firm has a market capitalization of $196.22 billion, a price-to-earnings ratio of 32.16, a price-to-earnings-growth ratio of 3.40 and a beta of 0.79. The business’s 50 day simple moving average is $571.75 and its 200-day simple moving average is $579.18. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO) last posted its 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. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the prior year, the company earned $5.69 earnings per share. Thermo Fisher Scientific’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share repurchase program 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 shares through open market purchases. Shares buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Robert W. Baird dropped their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Bernstein Bank upped their price target on shares of 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. Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Finally, Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price for the company. Four equities 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.