Thermo Fisher Scientific Inc. $TMO Shares Sold by Ownership Capital B.V.

Ownership Capital B.V. lowered its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 89.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,117 shares of the medical research company’s stock after selling 151,046 shares during the quarter. Thermo Fisher Scientific comprises about 4.9% of Ownership Capital B.V.’s portfolio, making the stock its 10th biggest holding. Ownership Capital B.V.’s holdings in Thermo Fisher Scientific were worth $8,787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Thermo Fisher Scientific by 0.9% during the second quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock worth $13,700,154,000 after purchasing an additional 309,207 shares during the period. Norges Bank acquired a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $2,264,615,000. Franklin Resources Inc. increased its position in shares of Thermo Fisher Scientific by 11.3% in the 2nd quarter. Franklin Resources Inc. now owns 4,897,546 shares of the medical research company’s stock valued at $1,985,759,000 after purchasing an additional 498,238 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Thermo Fisher Scientific by 2.6% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,000,562 shares of the medical research company’s stock worth $1,216,612,000 after purchasing an additional 74,971 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Thermo Fisher Scientific by 25.4% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,936,998 shares of the medical research company’s stock worth $1,424,503,000 after purchasing an additional 594,218 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Up 0.1%

Shares of TMO stock opened at $626.82 on Tuesday. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average is $592.07 and its two-hundred day moving average is $533.76. The company has a market capitalization of $235.50 billion, a P/E ratio of 36.21, a price-to-earnings-growth ratio of 4.11 and a beta of 0.91.

Thermo Fisher Scientific declared that its board has authorized a share buyback program on Thursday, November 6th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase up to 2.4% 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 Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were given a dividend of $0.43 per share. The ex-dividend date was Monday, December 15th. This represents a $1.72 dividend on an annualized basis and a yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.94%.

Insider Activity

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total transaction of $12,424,243.76. Following the transaction, the chief operating officer owned 84,117 shares in the company, valued at approximately $47,404,976.52. The trade was a 20.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Lisa P. Britt sold 1,058 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $588.26, for a total value of $622,379.08. Following the completion of the sale, the vice president directly owned 13,087 shares of the company’s stock, valued at $7,698,558.62. This represents a 7.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 124,517 shares of company stock worth $72,363,568 over the last quarter. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. TD Cowen reaffirmed a “buy” rating on shares of Thermo Fisher Scientific in a report on Wednesday, January 7th. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price for the company in a research note on Sunday, December 7th. Leerink Partners increased their price target on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company upped their target price on shares of Thermo Fisher Scientific from $635.00 to $675.00 and gave the company an “overweight” rating in a report on Monday, December 15th. Finally, UBS Group upped their target price on Thermo Fisher Scientific from $500.00 to $590.00 and gave the company a “neutral” rating in a research report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $625.47.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.