Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 66,106 shares of the medical research company’s stock after selling 2,215 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Thermo Fisher Scientific were worth $40,891,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $27,000. New Millennium Group LLC acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $29,000. Stephens Consulting LLC raised its stake in shares of Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares in the last quarter. Finally, Bank & Trust Co acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 1.7 %

TMO stock opened at $521.67 on Thursday. Thermo Fisher Scientific Inc. has a 12-month low of $480.57 and a 12-month high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The company has a market cap of $199.54 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 3.40 and a beta of 0.79. The company has a 50 day moving average of $569.98 and a two-hundred day moving average of $578.78.

Thermo Fisher Scientific (NYSE:TMO) last released 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 net margin of 14.48% and a return on equity of 17.49%. The company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the prior year, the firm earned $5.69 EPS. The company’s revenue was up .2% compared to the same quarter last year. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. Thermo Fisher Scientific’s payout ratio is 9.78%.

Thermo Fisher Scientific announced that its board has initiated a stock repurchase program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Royal Bank of Canada cut their target price on shares of 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. Robert W. Baird dropped their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Bank of America increased their price objective on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. TD Cowen increased their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Finally, Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 price objective on the stock. 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’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.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 9,000 shares of the stock in a transaction on Friday, November 8th. The shares were sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the transaction, the chief executive officer now owns 14,608 shares in the company, valued at $8,076,178.88. This represents a 38.12 % 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 firm’s stock in a transaction on 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 owns 16,663 shares in the company, valued at $9,333,946.08. The trade was 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 worth $20,651,865 in the last quarter. 0.34% of the stock is currently owned by corporate insiders.

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.