First Citizens Bank & Trust Co. decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,470 shares of the medical research company’s stock after selling 381 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Thermo Fisher Scientific were worth $2,800,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Seven Eight Capital LP boosted its holdings in shares of Thermo Fisher Scientific by 241.8% in the 3rd quarter. Seven Eight Capital LP now owns 64,600 shares of the medical research company’s stock valued at $15,768,000 after acquiring an additional 45,700 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Thermo Fisher Scientific by 5.5% in the 3rd quarter. Huntington National Bank now owns 222,745 shares of the medical research company’s stock valued at $54,368,000 after acquiring an additional 11,570 shares during the last quarter. Oakbrook Investments LLC purchased a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at $305,000. Aperio Group LLC boosted its holdings in shares of Thermo Fisher Scientific by 1.0% in the 3rd quarter. Aperio Group LLC now owns 397,207 shares of the medical research company’s stock valued at $96,950,000 after acquiring an additional 4,078 shares during the last quarter. Finally, Highland Capital Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 8.2% in the 3rd quarter. Highland Capital Management LLC now owns 42,636 shares of the medical research company’s stock valued at $10,407,000 after acquiring an additional 3,236 shares during the last quarter. Institutional investors and hedge funds own 85.96% of the company’s stock.

NYSE TMO traded down $4.90 during mid-day trading on Thursday, reaching $229.75. 119,847 shares of the stock were exchanged, compared to its average volume of 1,399,923. Thermo Fisher Scientific Inc. has a 1 year low of $181.51 and a 1 year high of $249.95. The company has a market capitalization of $98.31 billion, a PE ratio of 24.27, a price-to-earnings-growth ratio of 1.78 and a beta of 1.12. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.11 and a current ratio of 1.58.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, July 25th. The medical research company reported $2.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.63 by $0.12. Thermo Fisher Scientific had a net margin of 10.36% and a return on equity of 16.28%. The firm had revenue of $6.08 billion for the quarter, compared to the consensus estimate of $5.90 billion. During the same period in the prior year, the firm posted $2.30 earnings per share. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, equities analysts expect that Thermo Fisher Scientific Inc. will post 10.98 EPS for the current year.

Thermo Fisher Scientific declared that its board has initiated a stock buyback plan on Friday, September 7th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase up to 2.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

TMO has been the topic of several recent research reports. ValuEngine downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Wednesday, June 20th. Morgan Stanley upped their price objective on shares of Thermo Fisher Scientific from $230.00 to $233.00 and gave the company an “overweight” rating in a report on Friday, July 13th. Zacks Investment Research downgraded shares of Thermo Fisher Scientific from a “hold” rating to a “sell” rating in a report on Tuesday, July 24th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $300.00 price objective on shares of Thermo Fisher Scientific in a report on Thursday, July 26th. Finally, Leerink Swann upped their price objective on shares of Thermo Fisher Scientific from $239.00 to $255.00 and gave the company an “outperform” rating in a report on Thursday, July 26th. Two equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $259.91.

In related news, CEO Marc N. Casper sold 50,000 shares of the stock in a transaction on Monday, August 6th. The shares were sold at an average price of $233.95, for a total transaction of $11,697,500.00. Following the sale, the chief executive officer now directly owns 320,122 shares of the company’s stock, valued at $74,892,541.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc N. Casper sold 125,520 shares of the stock in a transaction on Monday, October 1st. The stock was sold at an average price of $247.50, for a total transaction of $31,066,200.00. The disclosure for this sale can be found here. Insiders have sold 196,070 shares of company stock worth $47,569,729 over the last three months. 0.49% of the stock is currently owned by insiders.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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