Kingfisher Capital LLC Sells 469 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Kingfisher Capital LLC lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.2% in the third quarter, according to its most recent filing with the SEC. The firm owned 10,782 shares of the medical research company’s stock after selling 469 shares during the quarter. Thermo Fisher Scientific makes up approximately 1.5% of Kingfisher Capital LLC’s investment portfolio, making the stock its 21st largest holding. Kingfisher Capital LLC’s holdings in Thermo Fisher Scientific were worth $6,669,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. LRI Investments LLC bought a new position in shares of Thermo Fisher Scientific in the 1st quarter worth about $127,000. Cetera Investment Advisers boosted its holdings in shares of Thermo Fisher Scientific by 245.9% during the 1st quarter. Cetera Investment Advisers now owns 56,914 shares of the medical research company’s stock worth $33,079,000 after buying an additional 40,460 shares in the last quarter. Cetera Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 62.5% in the 1st quarter. Cetera Advisors LLC now owns 16,453 shares of the medical research company’s stock valued at $9,563,000 after acquiring an additional 6,327 shares in the last quarter. Cetera Advisor Networks LLC lifted its position in shares of Thermo Fisher Scientific by 5.1% during the 1st quarter. Cetera Advisor Networks LLC now owns 28,845 shares of the medical research company’s stock valued at $16,765,000 after acquiring an additional 1,404 shares during the period. Finally, Westwood Holdings Group Inc. grew its holdings in Thermo Fisher Scientific by 54.9% in the first quarter. Westwood Holdings Group Inc. now owns 1,233 shares of the medical research company’s stock worth $717,000 after purchasing an additional 437 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the topic of several research reports. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price objective on the stock. Morgan Stanley increased their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research report on Friday, September 20th. TD Cowen lifted their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Finally, Sanford C. Bernstein lowered their price objective on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock opened at $521.66 on Friday. The business’s fifty day simple moving average is $568.01 and its 200 day simple moving average is $578.38. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 12 month low of $480.57 and a 12 month high of $627.88. The firm has a market capitalization of $199.53 billion, a P/E ratio of 32.71, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results 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. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the previous year, the business posted $5.69 EPS. The business’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

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

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the 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 directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the sale, the chief executive officer now directly owns 14,608 shares in the company, valued at $8,076,178.88. This trade represents a 38.12 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is owned by company insiders.

About Thermo Fisher Scientific

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.