OVERSEA CHINESE BANKING Corp Ltd Sells 4,668 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

OVERSEA CHINESE BANKING Corp Ltd trimmed its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 46.7% during the third quarter, Holdings Channel reports. The firm owned 5,332 shares of the medical research company’s stock after selling 4,668 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Thermo Fisher Scientific were worth $3,298,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Signature Resources Capital Management LLC boosted its position in Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares in the last quarter. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC grew its position in Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares during the last quarter. Headlands Technologies LLC bought a new position in Thermo Fisher Scientific in the 1st quarter valued at $32,000. Finally, Bank & Trust Co acquired a new position in Thermo Fisher Scientific in the second quarter worth $33,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction dated 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 transaction, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was 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 $7,134,197.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock valued at $20,651,865 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on TMO. Evercore ISI cut their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Stephens initiated 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 on the stock. Barclays lowered their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Bernstein Bank increased their price objective on 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. Finally, Royal Bank of Canada cut their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Stock Performance

TMO stock opened at $540.63 on Wednesday. Thermo Fisher Scientific Inc. has a 1-year low of $439.11 and a 1-year high of $627.88. The business’s 50-day moving average price is $592.59 and its two-hundred day moving average price is $583.56. The firm has a market cap of $206.79 billion, a PE ratio of 33.90, a P/E/G ratio of 3.61 and a beta of 0.79. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the prior year, the business earned $5.69 EPS. Thermo Fisher Scientific’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

Thermo Fisher Scientific Company 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.