Glenmede Trust Co. NA Trims Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Glenmede Trust Co. NA lowered its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 89,433 shares of the medical research company’s stock after selling 6,486 shares during the period. Glenmede Trust Co. NA’s holdings in Thermo Fisher Scientific were worth $55,321,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of TMO. Cynosure Group LLC raised its stake in Thermo Fisher Scientific by 14.5% during the 3rd quarter. Cynosure Group LLC now owns 1,655 shares of the medical research company’s stock valued at $1,024,000 after purchasing an additional 209 shares during the period. Townsquare Capital LLC grew its stake in Thermo Fisher Scientific by 4.3% during the third quarter. Townsquare Capital LLC now owns 82,905 shares of the medical research company’s stock valued at $51,283,000 after acquiring an additional 3,447 shares in the last quarter. Transamerica Financial Advisors Inc. lifted its stake in Thermo Fisher Scientific by 5,688.8% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 6,715 shares of the medical research company’s stock worth $4,154,000 after purchasing an additional 6,599 shares in the last quarter. J. Stern & Co. LLP grew its position in shares of Thermo Fisher Scientific by 2.7% during the third quarter. J. Stern & Co. LLP now owns 54,340 shares of the medical research company’s stock valued at $33,613,000 after purchasing an additional 1,415 shares in the last quarter. Finally, Principal Street Partners LLC increased its stake in Thermo Fisher Scientific by 102.1% in the 3rd quarter. Principal Street Partners LLC now owns 764 shares of the medical research company’s stock worth $473,000 after acquiring an additional 386 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred 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 transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. The trade was a 1.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were 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. This trade represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock worth $20,651,865 over the last quarter. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.2 %

TMO opened at $512.99 on Wednesday. Thermo Fisher Scientific Inc. has a 52 week low of $480.57 and a 52 week high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The stock’s fifty day moving average is $571.75 and its two-hundred day moving average is $579.18. The company has a market capitalization of $196.22 billion, a P/E ratio of 32.16, a PEG ratio of 3.40 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results 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. The business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter last year, the firm posted $5.69 EPS. Analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific declared that its board has initiated a share buyback program 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 programs are usually an indication that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on TMO shares. Royal Bank of Canada cut their target price on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Robert W. Baird decreased their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Morgan Stanley lifted their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective for the company. Finally, Stephens began coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 target price on the stock. Four investment 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $649.33.

About Thermo Fisher Scientific

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.