Clarkston Capital Partners LLC Sells 41 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Clarkston Capital Partners LLC cut its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.7% in the third quarter, Holdings Channel.com reports. The fund owned 675 shares of the medical research company’s stock after selling 41 shares during the quarter. Clarkston Capital Partners LLC’s holdings in Thermo Fisher Scientific were worth $418,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Peterson Financial Group Inc. acquired a new position in Thermo Fisher Scientific during the third quarter worth $27,000. Signature Resources Capital Management LLC increased its holdings in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. New Millennium Group LLC acquired a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC grew its holdings in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares during the last quarter. Finally, Bank & Trust Co bought a new position in shares of Thermo Fisher Scientific in the second quarter valued at approximately $33,000. 89.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on TMO shares. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price on the stock. Royal Bank of Canada cut their price objective 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. Robert W. Baird dropped their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Bernstein Bank increased their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Finally, Evercore ISI cut their target price on shares of 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. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Stock Down 3.7 %

NYSE TMO opened at $513.08 on Monday. The stock has a fifty day moving average of $586.43 and a 200-day moving average of $582.39. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The stock has a market capitalization of $196.25 billion, a P/E ratio of 32.17, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 52 week low of $464.17 and a 52 week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (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 company’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share buyback program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to purchase up to 2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,608 shares in the company, valued at $8,076,178.88. This represents a 38.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,150 shares of company stock valued at $20,651,865 in the last ninety days. 0.34% of the stock is owned by insiders.

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.