Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Parnassus Investments LLC

Parnassus Investments LLC lessened its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 3.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,127,870 shares of the medical research company’s stock after selling 35,837 shares during the quarter. Thermo Fisher Scientific makes up about 1.5% of Parnassus Investments LLC’s portfolio, making the stock its 27th biggest holding. Parnassus Investments LLC owned approximately 0.29% of Thermo Fisher Scientific worth $697,667,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TMO. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Thermo Fisher Scientific in the 3rd quarter valued at about $254,412,000. Fifth Third Wealth Advisors LLC raised its holdings in Thermo Fisher Scientific by 8.5% in the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 3,897 shares of the medical research company’s stock valued at $2,411,000 after buying an additional 306 shares during the period. Prospera Financial Services Inc raised its holdings in Thermo Fisher Scientific by 19.6% in the 3rd quarter. Prospera Financial Services Inc now owns 4,549 shares of the medical research company’s stock valued at $2,816,000 after buying an additional 746 shares during the period. OneAscent Financial Services LLC purchased a new stake in Thermo Fisher Scientific in the 3rd quarter valued at about $360,000. Finally, Caprock Group LLC raised its holdings in Thermo Fisher Scientific by 2.3% in the 3rd quarter. Caprock Group LLC now owns 9,914 shares of the medical research company’s stock valued at $6,137,000 after buying an additional 219 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In related news, 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 transaction of $1,120,320.00. Following the sale, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated 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 owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $501.50 on Tuesday. The stock’s 50-day moving average is $584.05 and its 200-day moving average is $581.90. The company has a market cap of $191.82 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. Thermo Fisher Scientific Inc. has a 12 month low of $465.90 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, topping analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $5.69 EPS. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share repurchase plan on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently announced 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 annualized dividend and a dividend yield of 0.31%. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Stephens assumed coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 target price for the company. Royal Bank of Canada dropped their target price 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. Bernstein Bank lifted their target price 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. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

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.