Thermo Fisher Scientific Inc. (NYSE:TMO) Position Reduced by OVERSEA CHINESE BANKING Corp Ltd

OVERSEA CHINESE BANKING Corp Ltd lessened its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 46.7% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,332 shares of the medical research company’s stock after selling 4,668 shares during the period. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Thermo Fisher Scientific were worth $3,298,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of TMO. Signature Resources Capital Management LLC boosted its stake in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after acquiring an additional 35 shares in the last quarter. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific during the second quarter valued at about $29,000. Stephens Consulting LLC boosted its holdings in shares of Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares during the period. Headlands Technologies LLC acquired a new stake in shares of Thermo Fisher Scientific during the first quarter valued at approximately $32,000. Finally, Bank & Trust Co purchased a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at approximately $33,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on TMO. Evercore ISI cut their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Barclays lowered their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. TD Cowen raised their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Finally, Sanford C. Bernstein cut their target price on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Insider Activity

In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the sale, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is owned by company insiders.

Thermo Fisher Scientific Trading Down 1.2 %

NYSE:TMO opened at $540.63 on Wednesday. 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 moving average is $592.59 and its 200-day moving average is $583.56. The firm has a market cap of $206.79 billion, a price-to-earnings ratio of 33.90, a P/E/G ratio of 3.61 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 12 month low of $439.11 and a 12 month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $5.69 EPS. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 EPS 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 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 0.29%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

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.