Investidor Profissional Gestao de Recursos Ltda. decreased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 81.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,164 shares of the medical research company's stock after selling 5,140 shares during the quarter. Thermo Fisher Scientific makes up approximately 0.3% of Investidor Profissional Gestao de Recursos Ltda.'s holdings, making the stock its 17th largest holding. Investidor Profissional Gestao de Recursos Ltda.'s holdings in Thermo Fisher Scientific were worth $720,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently made changes to their positions in TMO. Lafayette Investments Inc. raised its stake in shares of Thermo Fisher Scientific by 2.1% during the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company's stock worth $459,000 after buying an additional 17 shares during the last quarter. IFG Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 3.3% in the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company's stock valued at $329,000 after purchasing an additional 17 shares during the period. Patrick M Sweeney & Associates Inc. boosted its position in shares of Thermo Fisher Scientific by 1.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company's stock worth $570,000 after purchasing an additional 18 shares during the last quarter. Drive Wealth Management LLC increased its holdings in Thermo Fisher Scientific by 0.9% in the second quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company's stock valued at $1,175,000 after purchasing an additional 18 shares during the last quarter. Finally, Quent Capital LLC boosted its holdings in Thermo Fisher Scientific by 1.0% during the second quarter. Quent Capital LLC now owns 1,886 shares of the medical research company's stock worth $1,043,000 after buying an additional 19 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.
TMO has been the topic of a number of analyst reports. Evercore ISI cut their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Morgan Stanley lifted their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an "overweight" rating in a research report on Friday, September 20th. Stifel Nicolaus dropped their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Robert W. Baird decreased their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Finally, Redburn Atlantic began coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a "buy" rating and a $680.00 price target on the stock. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $649.33.
Check Out Our Latest Research Report on TMO
NYSE:TMO opened at $513.08 on Monday. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The firm has a fifty day simple moving average of $586.43 and a 200 day simple moving average of $582.39. Thermo Fisher Scientific Inc. has a 1-year low of $464.17 and a 1-year high of $627.88. The stock has a market capitalization of $196.25 billion, a PE ratio of 32.17, a P/E/G ratio of 3.39 and a beta of 0.79.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $10.63 billion. During the same period in the prior year, the firm earned $5.69 EPS. Thermo Fisher Scientific's quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors 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 dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific's payout ratio is presently 9.78%.
Thermo Fisher Scientific declared that its board has approved a share buyback plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.
In related news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 12,736 shares of the company's stock, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction on Friday, October 25th. The shares were 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 directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,150 shares of company stock valued at $20,651,865 in the last quarter. 0.34% of the stock is currently owned by insiders.
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.
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