Cumberland Partners Ltd Sells 14,600 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Cumberland Partners Ltd cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 29.6% during the 3rd quarter, Holdings Channel reports. The firm owned 34,768 shares of the medical research company’s stock after selling 14,600 shares during the quarter. Thermo Fisher Scientific makes up approximately 1.5% of Cumberland Partners Ltd’s holdings, making the stock its 22nd largest holding. Cumberland Partners Ltd’s holdings in Thermo Fisher Scientific were worth $21,506,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Thermo Fisher Scientific by 0.4% during the first quarter. Vanguard Group Inc. now owns 33,095,791 shares of the medical research company’s stock valued at $19,235,605,000 after acquiring an additional 117,353 shares during the last quarter. Capital World Investors increased its position in shares of Thermo Fisher Scientific by 10.0% during the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after purchasing an additional 1,231,059 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Thermo Fisher Scientific by 1.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock worth $5,843,848,000 after buying an additional 156,675 shares during the last quarter. Capital Research Global Investors grew its position in Thermo Fisher Scientific by 1.5% during the first quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock valued at $4,715,436,000 after buying an additional 123,523 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after acquiring an additional 604,895 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO stock traded up $1.70 during mid-day trading on Tuesday, hitting $548.62. 149,413 shares of the stock were exchanged, compared to its average volume of 1,455,228. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The stock has a market capitalization of $209.85 billion, a price-to-earnings ratio of 34.29, a PEG ratio of 3.65 and a beta of 0.79. The business has a fifty day moving average price of $592.59 and a 200 day moving average price of $583.56. Thermo Fisher Scientific Inc. has a 12 month low of $439.11 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter last year, the firm earned $5.69 EPS. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.28%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,150 shares of company stock valued at $15,676,125 in the last quarter. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on TMO shares. Bernstein Bank lifted their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Evercore ISI cut their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Barclays dropped their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $649.33.

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.