Thermo Fisher Scientific Inc. $TMO Shares Sold by Investment House LLC

Investment House LLC cut its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 60.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,748 shares of the medical research company’s stock after selling 2,696 shares during the period. Investment House LLC’s holdings in Thermo Fisher Scientific were worth $848,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of TMO. Vanguard Group Inc. grew its holdings in Thermo Fisher Scientific by 0.9% in the second quarter. Vanguard Group Inc. now owns 33,789,164 shares of the medical research company’s stock valued at $13,700,154,000 after purchasing an additional 309,207 shares during the period. Norges Bank purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at approximately $2,264,615,000. Franklin Resources Inc. increased its holdings in 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 worth $1,985,759,000 after acquiring an additional 498,238 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Thermo Fisher Scientific by 2.6% during the second 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 acquiring an additional 74,971 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in shares of Thermo Fisher Scientific by 25.4% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,936,998 shares of the medical research company’s stock valued at $1,424,503,000 after purchasing an additional 594,218 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Trading Down 2.2%

Shares of TMO stock opened at $625.42 on Monday. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The stock has a market cap of $234.98 billion, a price-to-earnings ratio of 36.13, a PEG ratio of 4.11 and a beta of 0.91. The company’s 50-day moving average price is $590.88 and its 200-day moving average price is $532.39. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were issued 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 dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.94%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Evercore ISI reaffirmed an “outperform” rating and issued a $650.00 price target on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. JPMorgan Chase & Co. increased their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the company an “overweight” rating in a report on Thursday, October 9th. KeyCorp raised Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target on the stock in a research note on Sunday, December 7th. Citigroup raised Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and increased their price objective for the company from $580.00 to $660.00 in a research note on Thursday, December 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $625.47.

Insider Activity

In other Thermo Fisher Scientific news, EVP Michael D. Shafer sold 10,725 shares of the stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the sale, the executive vice president directly owned 18,731 shares in the company, valued at $11,238,600. This represents a 36.41% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Frederick M. Lowery sold 6,912 shares of the business’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the transaction, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,360,731.98. This trade represents a 32.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 124,517 shares of company stock worth $72,363,568 in the last 90 days. 0.33% of the stock is owned by corporate insiders.

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.