Icon Advisers Inc. Co. lessened its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 26.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,694 shares of the medical research company’s stock after selling 22,519 shares during the period. Thermo Fisher Scientific comprises 1.3% of Icon Advisers Inc. Co.’s investment portfolio, making the stock its 16th biggest holding. Icon Advisers Inc. Co.’s holdings in Thermo Fisher Scientific were worth $15,546,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of TMO. Bank of Montreal Can purchased a new stake in Thermo Fisher Scientific in the 2nd quarter valued at about $95,849,000. Pendal Group Ltd purchased a new stake in Thermo Fisher Scientific in the 3rd quarter valued at about $90,332,000. Chevy Chase Trust Holdings Inc. purchased a new stake in Thermo Fisher Scientific in the 2nd quarter valued at about $70,775,000. Voya Investment Management LLC increased its stake in Thermo Fisher Scientific by 30.4% in the 2nd quarter. Voya Investment Management LLC now owns 1,153,572 shares of the medical research company’s stock valued at $238,951,000 after buying an additional 268,708 shares during the last quarter. Finally, Natixis increased its stake in Thermo Fisher Scientific by 327.8% in the 2nd quarter. Natixis now owns 346,757 shares of the medical research company’s stock valued at $71,827,000 after buying an additional 265,699 shares during the last quarter. Institutional investors own 85.22% of the company’s stock.
TMO opened at $245.57 on Friday. The company has a market capitalization of $95.91 billion, a P/E ratio of 25.88, a price-to-earnings-growth ratio of 1.73 and a beta of 1.08. Thermo Fisher Scientific Inc. has a 12 month low of $181.51 and a 12 month high of $249.95. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 0.66.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is presently 7.17%.
Thermo Fisher Scientific announced that its board has authorized a stock buyback plan on Friday, September 7th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy up to 2.1% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.
TMO has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 price objective for the company in a research note on Monday, October 1st. ValuEngine raised shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research report on Tuesday, July 24th. UBS Group initiated coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, October 9th. They set a “buy” rating and a $295.00 target price for the company. Citigroup increased their target price on shares of Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a research report on Wednesday, October 10th. Finally, Goldman Sachs Group downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research report on Monday, September 17th. Two research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $261.45.
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 125,520 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $247.50, for a total value of $31,066,200.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.49% of the company’s stock.
About Thermo Fisher Scientific
Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.
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