Thermo Fisher Scientific Inc. (NYSE:TMO) is King Luther Capital Management Corp’s 7th Largest Position

King Luther Capital Management Corp reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 789,193 shares of the medical research company’s stock after selling 2,635 shares during the period. Thermo Fisher Scientific makes up approximately 2.1% of King Luther Capital Management Corp’s portfolio, making the stock its 7th biggest holding. King Luther Capital Management Corp’s holdings in Thermo Fisher Scientific were worth $488,171,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Thermo Fisher Scientific by 1.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock worth $5,843,848,000 after buying an additional 156,675 shares during the period. Ameriprise Financial Inc. grew its position in shares of Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after purchasing an additional 604,895 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Thermo Fisher Scientific by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,740,482 shares of the medical research company’s stock worth $962,482,000 after purchasing an additional 20,075 shares in the last quarter. Unisphere Establishment lifted its stake in Thermo Fisher Scientific by 7.1% in the 2nd quarter. Unisphere Establishment now owns 1,500,000 shares of the medical research company’s stock valued at $829,500,000 after buying an additional 100,000 shares in the last quarter. Finally, International Assets Investment Management LLC increased its stake 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 worth $876,152,000 after buying an additional 1,414,556 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,608 shares in the company, valued at $8,076,178.88. The trade was a 38.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 25th. The shares were 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 in the company, valued at $9,333,946.08. The trade was a 1.77 % 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. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on TMO shares. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price target on the stock. Royal Bank of Canada lowered their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Sanford C. Bernstein lowered their price target on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research report on Thursday, October 24th. Barclays decreased their price target 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Four equities research 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’s stock. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $512.86 on Thursday. The firm has a 50-day simple moving average of $579.63 and a 200-day simple moving average of $580.98. Thermo Fisher Scientific Inc. has a fifty-two week low of $476.45 and a fifty-two week high of $627.88. The company has a market capitalization of $196.17 billion, a price-to-earnings ratio of 32.15, a price-to-earnings-growth ratio of 3.37 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating 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 analyst estimates of $10.63 billion. During the same quarter in the previous year, the company earned $5.69 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. On average, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

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

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend 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.