Zurcher Kantonalbank Zurich Cantonalbank Has $173.38 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 280,291 shares of the medical research company’s stock after selling 44,169 shares during the period. Thermo Fisher Scientific makes up about 0.5% of Zurcher Kantonalbank Zurich Cantonalbank’s portfolio, making the stock its 26th largest holding. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.07% of Thermo Fisher Scientific worth $173,380,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Signature Resources Capital Management LLC increased its stake in Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares during the period. Peterson Financial Group Inc. bought a new position in shares of Thermo Fisher Scientific in the third quarter worth $27,000. New Millennium Group LLC bought a new stake in Thermo Fisher Scientific during the second quarter worth about $29,000. Stephens Consulting LLC increased its holdings in 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 buying an additional 29 shares during the period. Finally, Bank & Trust Co bought a new stake in Thermo Fisher Scientific during the second quarter worth $33,000. 89.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on TMO shares. Robert W. Baird reduced their price objective on 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. Morgan Stanley lifted their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Stephens started coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target for the company. Bank of America upped their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. Finally, Bernstein Bank upped their price target on shares of 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. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given 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 an average price target of $649.33.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of the firm’s stock in a transaction on Friday, November 8th. The stock was 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 directly owns 14,608 shares in the company, valued at approximately $8,076,178.88. This trade represents a 38.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction 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 owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,150 shares of company stock valued at $20,651,865 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.7 %

TMO opened at $521.67 on Thursday. The company has a market cap of $199.54 billion, a P/E ratio of 32.71, a price-to-earnings-growth ratio of 3.40 and a beta of 0.79. The company has a fifty day moving average price of $569.98 and a two-hundred day moving average price of $578.78. 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 Inc. has a 1-year low of $480.57 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating 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 firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter last year, the firm posted $5.69 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Analysts predict that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. 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 dividend payout ratio (DPR) is 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has approved a share buyback plan on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

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.