Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC increased its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 37.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 267,602 shares of the medical research company’s stock after acquiring an additional 73,575 shares during the quarter. Thermo Fisher Scientific makes up 1.6% of Manning & Napier Advisors LLC’s holdings, making the stock its 19th largest holding. Manning & Napier Advisors LLC’s holdings in Thermo Fisher Scientific were worth $139,215,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. State Street Corp grew its holdings in shares of Thermo Fisher Scientific by 0.8% in the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock worth $10,100,655,000 after acquiring an additional 124,996 shares during the last quarter. FMR LLC boosted its position in Thermo Fisher Scientific by 19.7% during the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after purchasing an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC boosted its position in Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after purchasing an additional 127,564 shares during the last quarter. Franklin Resources Inc. boosted its position in Thermo Fisher Scientific by 5.7% during the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after purchasing an additional 262,062 shares during the last quarter. Finally, Fisher Asset Management LLC boosted its position in Thermo Fisher Scientific by 2.6% during the third quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock valued at $1,630,896,000 after purchasing an additional 65,586 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 2.2 %

Thermo Fisher Scientific stock traded down $13.06 during mid-day trading on Wednesday, hitting $571.23. 455,884 shares of the company’s stock were exchanged, compared to its average volume of 1,899,792. The firm has a market capitalization of $218.50 billion, a P/E ratio of 35.88, a PEG ratio of 3.82 and a beta of 0.76. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The company’s 50 day simple moving average is $536.74 and its 200-day simple moving average is $570.35.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.27%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is 9.78%.

Thermo Fisher Scientific announced that its board has initiated a share repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. TD Cowen lifted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Morgan Stanley dropped their price objective on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a research note on Monday, January 13th. Royal Bank of Canada dropped their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 price target for the company. Finally, StockNews.com raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Four analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $648.95.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $558.12, for a total value of $5,581,200.00. Following the sale, the chief executive officer now owns 33,608 shares of the company’s stock, valued at approximately $18,757,296.96. The trade was a 22.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold 34,850 shares of company stock valued at $19,123,197 in the last 90 days. 0.34% of the stock is currently owned by company insiders.

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.