Lockheed Martin Investment Management Co. Sells 12,942 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Lockheed Martin Investment Management Co. reduced its stake in Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) by 35.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,450 shares of the medical research company’s stock after selling 12,942 shares during the period. Lockheed Martin Investment Management Co.’s holdings in Thermo Fisher Scientific were worth $12,739,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in Thermo Fisher Scientific by 1.1% during the first quarter. Vanguard Group Inc. now owns 31,457,999 shares of the medical research company’s stock worth $18,580,667,000 after acquiring an additional 354,211 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in Thermo Fisher Scientific by 4.8% during the first quarter. Fisher Asset Management LLC now owns 2,256,878 shares of the medical research company’s stock worth $1,333,025,000 after acquiring an additional 104,324 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Thermo Fisher Scientific by 1.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,045,569 shares of the medical research company’s stock worth $1,208,216,000 after acquiring an additional 32,043 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Thermo Fisher Scientific by 5.6% during the first quarter. The Manufacturers Life Insurance Company now owns 2,041,975 shares of the medical research company’s stock worth $1,206,529,000 after acquiring an additional 108,347 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in Thermo Fisher Scientific by 8.2% during the second quarter. Franklin Resources Inc. now owns 1,924,889 shares of the medical research company’s stock worth $1,045,754,000 after acquiring an additional 145,708 shares in the last quarter. 86.50% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded up $2.54 during trading on Thursday, reaching $547.29. 823,632 shares of the company’s stock were exchanged, compared to its average volume of 1,753,300. The business has a 50 day moving average price of $517.90 and a 200-day moving average price of $541.99. The stock has a market capitalization of $214.65 billion, a P/E ratio of 30.76, a PEG ratio of 1.89 and a beta of 0.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.74 and a quick ratio of 1.22. Thermo Fisher Scientific Inc. has a fifty-two week low of $475.77 and a fifty-two week high of $672.34.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 16th. Shareholders of record on Thursday, December 15th will be given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date is Wednesday, December 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 6.75%.

Thermo Fisher Scientific announced that its Board of Directors has initiated a stock repurchase plan on Thursday, November 10th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

TMO has been the topic of several recent analyst reports. SVB Leerink reduced their target price on Thermo Fisher Scientific from $590.00 to $555.00 and set an “outperform” rating on the stock in a report on Thursday, October 27th. Credit Suisse Group lowered their target price on Thermo Fisher Scientific to $620.00 in a research report on Thursday, October 27th. Benchmark downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Thursday, October 27th. Morgan Stanley lowered their target price on Thermo Fisher Scientific from $678.00 to $613.00 and set an “overweight” rating on the stock in a research report on Thursday, October 27th. Finally, Barclays lowered their target price on Thermo Fisher Scientific from $595.00 to $575.00 and set an “overweight” rating on the stock in a research report on Thursday, October 27th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $619.00.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 8,100 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $493.16, for a total transaction of $3,994,596.00. Following the completion of the sale, the chief executive officer now owns 178,005 shares in the company, valued at $87,784,945.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Marc N. Casper sold 8,100 shares of the business’s stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $493.16, for a total transaction of $3,994,596.00. Following the completion of the sale, the chief executive officer now owns 178,005 shares in the company, valued at $87,784,945.80. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 8,200 shares of the business’s stock in a transaction that occurred on Thursday, November 3rd. The stock was sold at an average price of $487.45, for a total value of $3,997,090.00. Following the sale, the chief executive officer now owns 178,005 shares of the company’s stock, valued at approximately $86,768,537.25. The disclosure for this sale can be found here. Insiders sold a total of 26,300 shares of company stock worth $13,091,386 over the last quarter. Company insiders own 0.43% of the company’s stock.

Thermo Fisher Scientific Profile

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Thermo Fisher Scientific Inc offers life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and service worldwide. 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 to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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