Nuance Investments LLC Has $4.58 Million Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Nuance Investments LLC cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 42.4% during the third quarter, HoldingsChannel.com reports. The firm owned 7,400 shares of the medical research company’s stock after selling 5,450 shares during the period. Nuance Investments LLC’s holdings in Thermo Fisher Scientific were worth $4,577,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of TMO. Lafayette Investments Inc. lifted its holdings in shares of Thermo Fisher Scientific by 2.1% during the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after acquiring an additional 17 shares during the period. IFG Advisors LLC boosted its holdings in Thermo Fisher Scientific by 3.3% during the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 17 shares in the last quarter. Patrick M Sweeney & Associates Inc. grew its stake in shares of Thermo Fisher Scientific by 1.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after purchasing an additional 18 shares during the period. Drive Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific by 0.9% during the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after buying an additional 18 shares during the period. Finally, Quent Capital LLC boosted its stake in Thermo Fisher Scientific by 1.0% in the 2nd quarter. Quent Capital LLC now owns 1,886 shares of the medical research company’s stock valued at $1,043,000 after buying an additional 19 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

Shares of TMO stock opened at $509.15 on Wednesday. The firm’s 50 day moving average price is $581.75 and its two-hundred day moving average price is $581.46. The stock has a market cap of $194.75 billion, a PE ratio of 31.92, a PEG ratio of 3.39 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 52-week low of $465.90 and a 52-week high of $627.88. 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 results on Wednesday, October 23rd. The medical research company reported $5.28 EPS 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 during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the prior year, the business posted $5.69 EPS. Thermo Fisher Scientific’s revenue was up .2% on a year-over-year basis. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.31%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is presently 9.78%.

Thermo Fisher Scientific declared that its board has authorized a share repurchase plan on Friday, November 15th that allows the company to repurchase $4.00 billion in 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 usually an indication that the company’s management believes its shares are undervalued.

Insider Activity

In other news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the transaction, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. This represents a 13.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock worth $20,651,865 in the last 90 days. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Sanford C. Bernstein cut their price objective on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Robert W. Baird cut their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Raymond James raised their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a report on Thursday, July 25th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

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.