Knuff & Co LLC Sells 120 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Knuff & Co LLC lessened its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,513 shares of the medical research company’s stock after selling 120 shares during the period. Thermo Fisher Scientific makes up about 2.0% of Knuff & Co LLC’s holdings, making the stock its 17th biggest holding. Knuff & Co LLC’s holdings in Thermo Fisher Scientific were worth $6,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in the company. BDF Gestion bought a new position in shares of Thermo Fisher Scientific during the second quarter valued at about $6,368,000. Nisa Investment Advisors LLC increased its stake in Thermo Fisher Scientific by 6.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock worth $87,093,000 after purchasing an additional 8,180 shares during the period. Simplify Asset Management Inc. boosted its stake in shares of Thermo Fisher Scientific by 67.4% during the third quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company’s stock valued at $8,518,000 after purchasing an additional 5,546 shares during the period. Seven Eight Capital LP bought a new position in shares of Thermo Fisher Scientific in the first quarter worth approximately $1,161,000. Finally, Simmons Bank increased its position in shares of Thermo Fisher Scientific by 60.2% in the third quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock valued at $5,087,000 after acquiring an additional 3,090 shares during the period. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of a number of recent analyst reports. Stephens assumed coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target for the company. 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. Wells Fargo & Company decreased their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Evercore ISI dropped their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Insider Buying and Selling

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. The trade was a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the transaction, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Trading Down 2.3 %

Shares of NYSE:TMO opened at $501.50 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 company has a market cap of $191.82 billion, a P/E ratio of 31.44, a PEG ratio of 3.39 and a beta of 0.79. The stock’s fifty day moving average price is $584.05 and its 200-day moving average price is $581.90. Thermo Fisher Scientific Inc. has a 1 year low of $465.90 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share 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 company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the prior year, the firm earned $5.69 earnings per share. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.31%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

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

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.