Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Holdings Lessened by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. decreased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 65.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,276 shares of the medical research company’s stock after selling 72,810 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Thermo Fisher Scientific were worth $23,676,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of TMO. EP Wealth Advisors LLC increased its position in Thermo Fisher Scientific by 2.3% during the first quarter. EP Wealth Advisors LLC now owns 14,175 shares of the medical research company’s stock worth $8,239,000 after buying an additional 316 shares during the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of Thermo Fisher Scientific by 54.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,233 shares of the medical research company’s stock worth $717,000 after buying an additional 437 shares during the period. Senator Investment Group LP acquired a new stake in shares of Thermo Fisher Scientific in the first quarter valued at about $49,403,000. Brant Point Investment Management LLC boosted its position in shares of Thermo Fisher Scientific by 1.4% in the first quarter. Brant Point Investment Management LLC now owns 15,025 shares of the medical research company’s stock valued at $8,733,000 after acquiring an additional 207 shares during the period. Finally, Stonebridge Capital Advisors LLC raised its stake in Thermo Fisher Scientific by 0.8% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 24,864 shares of the medical research company’s stock valued at $14,451,000 after purchasing an additional 198 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. Raymond James raised their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Royal Bank of Canada dropped their target price on shares of 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. Finally, UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Stock Up 0.7 %

NYSE:TMO opened at $512.86 on Thursday. The stock’s fifty day simple moving average is $579.63 and its 200-day simple moving average is $580.98. The firm has a market capitalization of $196.17 billion, a P/E ratio of 32.15, a P/E/G ratio of 3.37 and a beta of 0.79. 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 12-month low of $476.45 and a 12-month high of $627.88.

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 analysts’ consensus estimates 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 analysts’ expectations of $10.63 billion. During the same quarter in the prior year, the company earned $5.69 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. Equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued 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 dividend yield of 0.30%. Thermo Fisher Scientific’s payout ratio is 9.78%.

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

Insider Activity at Thermo Fisher Scientific

In other news, 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 value of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction on Monday, October 28th. The stock was 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 of the company’s stock, valued at $67,175,513.68. The trade was a 7.62 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is owned by corporate insiders.

Thermo Fisher Scientific 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.