OLD National Bancorp IN Lowers Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

OLD National Bancorp IN cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,226 shares of the medical research company’s stock after selling 2,413 shares during the period. OLD National Bancorp IN’s holdings in Thermo Fisher Scientific were worth $21,447,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also made changes to their positions in the company. International Assets Investment Management LLC boosted its position in Thermo Fisher Scientific by 76,051.4% during the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after acquiring an additional 1,414,556 shares in 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 in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Thermo Fisher Scientific in the third quarter valued at about $254,412,000. Lindsell Train Ltd purchased a new stake in shares of Thermo Fisher Scientific during the fourth quarter valued at about $211,858,000. Finally, Franklin Resources Inc. boosted its holdings in shares of Thermo Fisher Scientific by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after buying an additional 262,062 shares in the last quarter. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the completion of the sale, the chief executive officer now owns 111,192 shares of the company’s stock, valued at $58,960,669.92. The trade was a 8.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 34,850 shares of company stock valued at $19,123,197 in the last three months. 0.34% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. Bernstein Bank increased their target price on shares of 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. Redburn Atlantic started coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 target price on the stock. Stifel Nicolaus decreased their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. StockNews.com upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, January 14th. Finally, Bank of America lowered their target price on shares of Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a research note on Friday, December 13th. Four investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $648.95.

Thermo Fisher Scientific Trading Down 2.9 %

Thermo Fisher Scientific stock opened at $567.09 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The firm has a market cap of $216.91 billion, a PE ratio of 35.55, a P/E/G ratio of 3.82 and a beta of 0.76. The stock’s 50 day simple moving average is $536.74 and its two-hundred day simple moving average is $570.35. Thermo Fisher Scientific Inc. has a 12 month low of $493.30 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Thursday, January 30th. The medical research company reported $6.10 earnings per share for the quarter, beating analysts’ consensus estimates of $5.94 by $0.16. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current year.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.28%. The ex-dividend date was Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

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.