Crossmark Global Holdings Inc. Cuts Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Crossmark Global Holdings Inc. reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 7.1% during the third quarter, HoldingsChannel.com reports. The firm owned 5,822 shares of the medical research company’s stock after selling 446 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Thermo Fisher Scientific were worth $3,601,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of TMO. International Assets Investment Management LLC lifted its stake in shares of Thermo Fisher Scientific by 76,051.4% in the third quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock worth $876,152,000 after buying an additional 1,414,556 shares in the last quarter. Capital World Investors lifted its position in Thermo Fisher Scientific by 10.0% in the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after acquiring an additional 1,231,059 shares in the last quarter. Swedbank AB bought a new stake in shares of Thermo Fisher Scientific in the 1st quarter worth $705,636,000. Ameriprise Financial Inc. grew its position in Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock worth $1,372,157,000 after purchasing an additional 604,895 shares during the period. Finally, Point72 Asset Management L.P. lifted its holdings in shares of Thermo Fisher Scientific by 743.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock valued at $186,105,000 after buying an additional 296,646 shares during the period. Institutional investors own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the sale, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at approximately $67,611,804.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,150 shares of company stock worth $15,676,125. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Down 0.9 %

Shares of TMO opened at $546.92 on Tuesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The stock has a market capitalization of $209.20 billion, a price-to-earnings ratio of 34.29, a price-to-earnings-growth ratio of 3.65 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 1 year low of $439.11 and a 1 year high of $627.88. The business’s 50 day simple moving average is $593.95 and its 200-day simple moving average is $583.73.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 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 business had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same quarter last year, the business earned $5.69 earnings per share. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed 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 is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on TMO shares. Bank of America upped their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Stifel Nicolaus reduced their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” 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 company a “market perform” rating in a research note on Tuesday, October 22nd. Raymond James raised their target price on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Finally, Stephens began coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

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.