Thermo Fisher Scientific Inc. (TMO) Shares Sold by Pictet Asset Management Ltd.

Pictet Asset Management Ltd. lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,030,846 shares of the medical research company’s stock after selling 2,822 shares during the quarter. Thermo Fisher Scientific accounts for approximately 1.6% of Pictet Asset Management Ltd.’s holdings, making the stock its 3rd largest holding. Pictet Asset Management Ltd.’s holdings in Thermo Fisher Scientific were worth $739,769,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cornerstone Wealth Management LLC acquired a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $322,000. Acadian Asset Management LLC acquired a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $212,000. First Mercantile Trust Co. boosted its stake in Thermo Fisher Scientific by 16.5% in the 2nd quarter. First Mercantile Trust Co. now owns 2,682 shares of the medical research company’s stock worth $556,000 after purchasing an additional 379 shares in the last quarter. Sheets Smith Wealth Management acquired a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $494,000. Finally, Kaizen Advisory LLC boosted its stake in Thermo Fisher Scientific by 153.9% in the 2nd quarter. Kaizen Advisory LLC now owns 980 shares of the medical research company’s stock worth $203,000 after purchasing an additional 594 shares in the last quarter. 85.47% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE TMO opened at $235.01 on Monday. The company has a quick ratio of 1.27, a current ratio of 1.84 and a debt-to-equity ratio of 0.66. Thermo Fisher Scientific Inc. has a 12 month low of $181.51 and a 12 month high of $249.95. The company has a market cap of $94.61 billion, a price-to-earnings ratio of 24.76, a price-to-earnings-growth ratio of 1.70 and a beta of 1.08.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 24th. The medical research company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.55 by $0.07. Thermo Fisher Scientific had a net margin of 10.75% and a return on equity of 16.49%. The business had revenue of $5.92 billion during the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the previous year, the business posted $2.31 EPS. The business’s quarterly revenue was up 15.7% compared to the same quarter last year. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 11.04 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.29%. The ex-dividend date is Friday, December 14th. Thermo Fisher Scientific’s payout ratio is 7.17%.

Thermo Fisher Scientific declared that its board has authorized a stock repurchase plan on Friday, September 7th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 2.1% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

A number of analysts recently commented on the stock. Zacks Investment Research cut shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Wednesday, November 21st. Morgan Stanley lifted their target price on shares of Thermo Fisher Scientific from $254.00 to $260.00 and gave the stock an “overweight” rating in a research note on Thursday, October 25th. Robert W. Baird lifted their target price on shares of Thermo Fisher Scientific from $256.00 to $264.00 and gave the stock an “outperform” rating in a research note on Thursday, October 25th. Cleveland Research cut shares of Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Thursday, October 18th. Finally, Citigroup lifted their target price on shares of Thermo Fisher Scientific from $260.00 to $280.00 and gave the stock a “buy” rating in a research note on Wednesday, October 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Thermo Fisher Scientific currently has a consensus rating of “Buy” and an average price target of $263.55.

In other Thermo Fisher Scientific news, Director Tyler Jacks sold 4,772 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $239.75, for a total transaction of $1,144,087.00. 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 125,520 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $247.50, for a total transaction of $31,066,200.00. The disclosure for this sale can be found here. Insiders own 0.49% of the company’s stock.

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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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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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