Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Bridges Investment Management Inc.

Bridges Investment Management Inc. cut its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 133,781 shares of the medical research company’s stock after selling 1,230 shares during the quarter. Thermo Fisher Scientific comprises approximately 1.2% of Bridges Investment Management Inc.’s portfolio, making the stock its 26th biggest holding. Bridges Investment Management Inc.’s holdings in Thermo Fisher Scientific were worth $82,753,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TMO. Klingman & Associates LLC grew its position in shares of Thermo Fisher Scientific by 300.1% in the third quarter. Klingman & Associates LLC now owns 3,137 shares of the medical research company’s stock valued at $1,940,000 after purchasing an additional 2,353 shares in the last quarter. Verdence Capital Advisors LLC grew its holdings in shares of Thermo Fisher Scientific by 4.5% in the third quarter. Verdence Capital Advisors LLC now owns 4,047 shares of the medical research company’s stock valued at $2,503,000 after purchasing an additional 174 shares during the period. Markel Group Inc. boosted its holdings in Thermo Fisher Scientific by 20.4% in the 3rd quarter. Markel Group Inc. now owns 35,400 shares of the medical research company’s stock valued at $21,897,000 after purchasing an additional 6,000 shares during the last quarter. Pegasus Partners Ltd. raised its position in shares of Thermo Fisher Scientific by 29.3% during the 3rd quarter. Pegasus Partners Ltd. now owns 1,005 shares of the medical research company’s stock valued at $622,000 after buying an additional 228 shares during the period. Finally, Rovin Capital UT ADV grew its position in Thermo Fisher Scientific by 6.2% in the third quarter. Rovin Capital UT ADV now owns 668 shares of the medical research company’s stock worth $413,000 after acquiring an additional 39 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on TMO. Wells Fargo & Company cut their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Bernstein Bank boosted their price objective 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. TD Cowen raised their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Stifel Nicolaus lowered their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, Robert W. Baird decreased their target price on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $649.33.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $558.12, for a total value of $5,581,200.00. Following the transaction, the chief executive officer now directly owns 33,608 shares of the company’s stock, valued at $18,757,296.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, CEO Marc N. Casper sold 5,850 shares of Thermo Fisher Scientific stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $557.89, for a total transaction of $3,263,656.50. Following the sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at approximately $67,611,804.88. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $558.12, for a total value of $5,581,200.00. Following the sale, the chief executive officer now owns 33,608 shares of the company’s stock, valued at approximately $18,757,296.96. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,150 shares of company stock worth $15,676,125. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.7 %

Shares of NYSE TMO opened at $551.74 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $437.26 and a 1 year high of $627.88. The firm has a market cap of $211.04 billion, a P/E ratio of 34.59, a price-to-earnings-growth ratio of 3.70 and a beta of 0.79. The firm’s 50 day moving average price is $593.95 and its 200 day moving average price is $583.63. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The firm 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 firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the company earned $5.69 EPS. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

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.