Westfield Capital Management Co. LP Sells 1,142 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Westfield Capital Management Co. LP lowered its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 6.3% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,972 shares of the medical research company’s stock after selling 1,142 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Thermo Fisher Scientific were worth $10,498,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in TMO. Silvercrest Asset Management Group LLC lifted its position in Thermo Fisher Scientific by 2.4% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 45,630 shares of the medical research company’s stock worth $26,521,000 after buying an additional 1,053 shares in the last quarter. Waverly Advisors LLC raised its position in Thermo Fisher Scientific by 7.1% in the 1st quarter. Waverly Advisors LLC now owns 2,386 shares of the medical research company’s stock worth $1,387,000 after purchasing an additional 158 shares during the last quarter. Kennedy Capital Management LLC bought a new position in Thermo Fisher Scientific in the 1st quarter valued at $11,657,000. Industrial Alliance Investment Management Inc. raised its position in shares of Thermo Fisher Scientific by 2.4% during the first quarter. Industrial Alliance Investment Management Inc. now owns 853 shares of the medical research company’s stock worth $496,000 after acquiring an additional 20 shares during the last quarter. Finally, In Depth Partners LLC lifted its stake in shares of Thermo Fisher Scientific by 2.8% during the first quarter. In Depth Partners LLC now owns 13,262 shares of the medical research company’s stock valued at $7,708,000 after acquiring an additional 356 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 0.6 %

TMO opened at $513.26 on Monday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a twelve month low of $480.57 and a twelve month high of $627.88. The stock has a market capitalization of $196.32 billion, a price-to-earnings ratio of 32.18, a P/E/G ratio of 3.39 and a beta of 0.79. The company has a 50-day simple moving average of $575.70 and a 200 day simple moving average of $580.20.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $5.69 earnings per share. Analysts predict that Thermo Fisher Scientific Inc. will post 21.67 EPS 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 of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.78%.

Thermo Fisher Scientific declared that its board has initiated a share buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

TMO has been the topic of several recent research reports. Stifel Nicolaus reduced their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Bernstein Bank upped their target price on shares of 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. Royal Bank of Canada reduced their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company cut their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Finally, Evercore ISI dropped their price objective on 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. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the transaction, the chief executive officer now owns 121,192 shares in the company, valued at $67,175,513.68. The trade was a 7.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the sale, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock valued at $20,651,865 in the last ninety days. 0.34% of the stock is owned by company 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.