Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 49,302 shares of the medical research company’s stock after acquiring an additional 60 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Thermo Fisher Scientific were worth $28,168,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its stake in shares of Thermo Fisher Scientific by 5.1% during the second quarter. Parametric Portfolio Associates LLC now owns 1,419,749 shares of the medical research company’s stock valued at $716,221,000 after purchasing an additional 69,199 shares during the period. Kavar Capital Partners Group LLC increased its stake in Thermo Fisher Scientific by 1.0% during the third quarter. Kavar Capital Partners Group LLC now owns 26,648 shares of the medical research company’s stock valued at $15,225,000 after purchasing an additional 270 shares during the last quarter. Ativo Capital Management LLC increased its stake in Thermo Fisher Scientific by 6.9% during the second quarter. Ativo Capital Management LLC now owns 5,384 shares of the medical research company’s stock valued at $2,716,000 after purchasing an additional 348 shares during the last quarter. Sycomore Asset Management acquired a new position in shares of Thermo Fisher Scientific during the third quarter valued at $11,971,000. Finally, BKD Wealth Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 9.6% in the 3rd quarter. BKD Wealth Advisors LLC now owns 4,574 shares of the medical research company’s stock worth $2,613,000 after acquiring an additional 400 shares during the period. Institutional investors own 85.93% of the company’s stock.
Thermo Fisher Scientific stock traded down $6.02 during midday trading on Friday, reaching $594.87. The stock had a trading volume of 36,008 shares, compared to its average volume of 1,996,860. The firm’s fifty day simple moving average is $636.75 and its two-hundred day simple moving average is $587.14. Thermo Fisher Scientific Inc. has a twelve month low of $433.52 and a twelve month high of $672.34. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.19 and a quick ratio of 2.56. The firm has a market cap of $234.41 billion, a price-to-earnings ratio of 27.64, a PEG ratio of 2.05 and a beta of 0.74.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 14th. Investors of record on Wednesday, December 15th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 0.17%. The ex-dividend date of this dividend is Tuesday, December 14th. Thermo Fisher Scientific’s payout ratio is presently 4.83%.
Thermo Fisher Scientific declared that its board has approved a stock buyback program on Thursday, September 23rd that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the medical research company to reacquire up to 1.3% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.
Several equities research analysts have commented on TMO shares. Wells Fargo & Company raised their price target on shares of Thermo Fisher Scientific from $625.00 to $700.00 and gave the company an “equal weight” rating in a research note on Tuesday, December 14th. SVB Leerink raised their price target on shares of Thermo Fisher Scientific from $675.00 to $685.00 and gave the company an “outperform” rating in a research note on Thursday, October 28th. Robert W. Baird raised their price target on shares of Thermo Fisher Scientific from $635.00 to $657.00 and gave the company an “outperform” rating in a research note on Thursday, October 28th. Jefferies Financial Group initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, September 20th. They set a “hold” rating and a $540.00 price objective on the stock. Finally, Benchmark raised their price objective on shares of Thermo Fisher Scientific from $580.00 to $650.00 and gave the company a “buy” rating in a research note on Wednesday, September 22nd. Three equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $635.78.
In related news, CFO Stephen Williamson sold 22,550 shares of the stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $638.10, for a total transaction of $14,389,155.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Mark Stevenson sold 26,925 shares of the firm’s stock in a transaction that occurred on Wednesday, December 1st. The stock was sold at an average price of $631.88, for a total value of $17,013,369.00. The disclosure for this sale can be found here. Insiders have sold 76,400 shares of company stock valued at $48,437,702 over the last 90 days. Corporate insiders own 0.44% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
Featured Article: Ex-Dividend
Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO).
Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.