Harbour Investments Inc. Cuts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Harbour Investments Inc. reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 3,457 shares of the medical research company’s stock after selling 87 shares during the period. Harbour Investments Inc.’s holdings in Thermo Fisher Scientific were worth $2,139,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Entropy Technologies LP increased its holdings in shares of Thermo Fisher Scientific by 111.1% in the third quarter. Entropy Technologies LP now owns 16,519 shares of the medical research company’s stock worth $10,218,000 after purchasing an additional 8,693 shares during the last quarter. Apollon Wealth Management LLC increased its stake in Thermo Fisher Scientific by 4.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 11,042 shares of the medical research company’s stock worth $6,830,000 after acquiring an additional 423 shares during the last quarter. Bond & Devick Financial Network Inc. bought a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at approximately $202,000. Catalytic Wealth RIA LLC raised its stake in Thermo Fisher Scientific by 38.8% during the third quarter. Catalytic Wealth RIA LLC now owns 5,890 shares of the medical research company’s stock valued at $3,643,000 after purchasing an additional 1,648 shares in the last quarter. Finally, Chartwell Investment Partners LLC grew its stake in shares of Thermo Fisher Scientific by 45.8% in the 3rd quarter. Chartwell Investment Partners LLC now owns 17,496 shares of the medical research company’s stock worth $10,823,000 after buying an additional 5,496 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $541.90 on Thursday. Thermo Fisher Scientific Inc. has a 12-month low of $455.22 and a 12-month high of $627.88. The business’s fifty day simple moving average is $591.27 and its 200-day simple moving average is $583.32. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The company has a market cap of $207.28 billion, a PE ratio of 33.97, a PEG ratio of 3.57 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.69 earnings per share. Analysts expect that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Redburn Atlantic began coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 price objective on the stock. Bernstein Bank raised their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Evercore ISI reduced their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. TD Cowen upped their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada dropped their target price on 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. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $649.33.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the sale, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were 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 approximately $67,175,513.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Boxer sold 2,000 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 value of $1,120,320.00. Following the transaction, the senior vice president now owns 12,736 shares of the company’s stock, valued at $7,134,197.76. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is currently owned by insiders.

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.