Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 27.1% during the 2nd quarter, HoldingsChannel.com reports. The fund owned 82,628 shares of the medical research company’s stock after selling 30,643 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Thermo Fisher Scientific were worth $43,081,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Stonehage Fleming Financial Services Holdings Ltd acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $113,262,000. Ascension Asset Management LLC purchased a new stake in Thermo Fisher Scientific during the 2nd quarter worth approximately $3,952,000. Bowie Capital Management LLC purchased a new stake in Thermo Fisher Scientific during the 2nd quarter worth approximately $23,129,000. Ledyard National Bank increased its stake in Thermo Fisher Scientific by 11.0% during the 2nd quarter. Ledyard National Bank now owns 2,893 shares of the medical research company’s stock worth $1,509,000 after buying an additional 287 shares during the period. Finally, Private Advisor Group LLC increased its stake in Thermo Fisher Scientific by 2.5% during the 2nd quarter. Private Advisor Group LLC now owns 23,584 shares of the medical research company’s stock worth $12,451,000 after buying an additional 578 shares during the period. 87.06% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 1.3 %

Shares of Thermo Fisher Scientific stock opened at $466.42 on Friday. The company has a fifty day simple moving average of $479.00 and a 200-day simple moving average of $514.39. Thermo Fisher Scientific Inc. has a 12-month low of $415.60 and a 12-month high of $609.85. The company has a current ratio of 1.63, a quick ratio of 1.25 and a debt-to-equity ratio of 0.67. The stock has a market cap of $180.21 billion, a price-to-earnings ratio of 30.56, a PEG ratio of 2.87 and a beta of 0.81.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 25th. The medical research company reported $5.69 earnings per share for the quarter, topping analysts’ consensus estimates of $5.61 by $0.08. The firm had revenue of $10.57 billion during the quarter, compared to analysts’ expectations of $10.60 billion. Thermo Fisher Scientific had a net margin of 13.68% and a return on equity of 18.88%. Thermo Fisher Scientific’s quarterly revenue was down 1.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $5.08 EPS. On average, equities analysts forecast that Thermo Fisher Scientific Inc. will post 21.52 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 15th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date is Thursday, December 14th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.17%.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 14th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to reacquire up to 2.2% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently weighed in on TMO. Citigroup cut their target price on shares of Thermo Fisher Scientific from $625.00 to $530.00 and set a “buy” rating on the stock in a research note on Thursday, October 26th. TheStreet downgraded shares of Thermo Fisher Scientific from a “b-” rating to a “c+” rating in a research note on Monday, November 6th. Barclays dropped their price objective on shares of Thermo Fisher Scientific from $625.00 to $585.00 in a research report on Friday, September 29th. Stifel Nicolaus dropped their price objective on shares of Thermo Fisher Scientific from $660.00 to $530.00 and set a “buy” rating on the stock in a research report on Thursday, October 26th. Finally, Wells Fargo & Company raised shares of Thermo Fisher Scientific from an “underweight” rating to an “equal weight” rating and set a $475.00 price objective on the stock in a research report on Wednesday, October 25th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $593.94.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 3,000 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the completion of the sale, the executive vice president now owns 17,556 shares in the company, valued at approximately $9,792,210.12. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction on Monday, November 6th. The shares were sold at an average price of $454.41, for a total value of $4,544,100.00. Following the completion of the sale, the chief executive officer now owns 131,175 shares in the company, valued at approximately $59,607,231.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 3,000 shares of the firm’s stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $557.77, for a total transaction of $1,673,310.00. Following the completion of the sale, the executive vice president now owns 17,556 shares of the company’s stock, valued at approximately $9,792,210.12. The disclosure for this sale can be found here. Insiders sold a total of 23,000 shares of company stock worth $10,778,910 in the last 90 days. Company insiders own 0.32% of the company’s stock.

About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the United States 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, clinical next-generation sequencing, bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.