Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp trimmed its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 141,691 shares of the medical research company’s stock after selling 12,421 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Thermo Fisher Scientific were worth $87,646,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in Thermo Fisher Scientific by 245.9% during the 1st quarter. Cetera Investment Advisers now owns 56,914 shares of the medical research company’s stock valued at $33,079,000 after acquiring an additional 40,460 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of Thermo Fisher Scientific by 62.5% in the first quarter. Cetera Advisors LLC now owns 16,453 shares of the medical research company’s stock valued at $9,563,000 after purchasing an additional 6,327 shares during the last quarter. Cetera Advisor Networks LLC lifted its position in Thermo Fisher Scientific by 5.1% during the first quarter. Cetera Advisor Networks LLC now owns 28,845 shares of the medical research company’s stock worth $16,765,000 after buying an additional 1,404 shares in the last quarter. Westwood Holdings Group Inc. grew its holdings in Thermo Fisher Scientific by 54.9% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,233 shares of the medical research company’s stock valued at $717,000 after buying an additional 437 shares in the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in shares of Thermo Fisher Scientific by 5.0% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,377 shares of the medical research company’s stock worth $784,000 after acquiring an additional 65 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $529.63 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $487.06 and a 1 year high of $627.88. The stock has a market capitalization of $202.58 billion, a PE ratio of 33.21, a PEG ratio of 3.45 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The stock has a 50-day simple moving average of $566.33 and a 200-day simple moving average of $577.96.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $10.63 billion. During the same quarter in the previous year, the business posted $5.69 EPS. The firm’s revenue was up .2% on a year-over-year basis. On average, analysts predict that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 yield of 0.29%. 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 declared that its Board of Directors has initiated a stock buyback plan 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 buy up to 2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on TMO shares. Royal Bank of Canada cut their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Stephens began coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target for the company. Barclays decreased their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. Sanford C. Bernstein cut their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Finally, TD Cowen upped their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now 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 ownership of the stock. 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 company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,150 shares of company stock valued at $20,651,865. 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.