Bowen Hanes & Co. Inc. lessened its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 203,359 shares of the medical research company’s stock after selling 773 shares during the quarter. Thermo Fisher Scientific comprises approximately 2.2% of Bowen Hanes & Co. Inc.’s portfolio, making the stock its 7th biggest position. Bowen Hanes & Co. Inc. owned about 0.05% of Thermo Fisher Scientific worth $49,636,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC acquired a new position in Thermo Fisher Scientific during the second quarter worth $103,000. Horrell Capital Management Inc. acquired a new position in Thermo Fisher Scientific during the second quarter worth $104,000. Atlantic Trust LLC acquired a new position in Thermo Fisher Scientific during the second quarter worth $154,000. Summit Financial Group Inc. acquired a new position in Thermo Fisher Scientific during the third quarter worth $201,000. Finally, Searle & CO. acquired a new position in Thermo Fisher Scientific during the third quarter worth $203,000. Institutional investors and hedge funds own 86.98% of the company’s stock.

Thermo Fisher Scientific stock traded down $6.18 during trading hours on Friday, hitting $235.86. The stock had a trading volume of 1,564,804 shares, compared to its average volume of 1,488,032. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.84. The firm has a market capitalization of $97.44 billion, a price-to-earnings ratio of 24.85, a price-to-earnings-growth ratio of 1.75 and a beta of 1.09. Thermo Fisher Scientific Inc. has a 1-year low of $185.86 and a 1-year high of $253.91.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 24th. The medical research company reported $2.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.07. The company had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.70 billion. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. Thermo Fisher Scientific’s revenue was up 15.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.31 earnings per share. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 11.05 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Shareholders of record on Monday, December 17th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 14th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 7.17%.

Thermo Fisher Scientific announced that its board has approved a share repurchase plan on Friday, September 7th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy up to 2.1% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

TMO has been the topic of a number of recent analyst reports. Barclays upped their price objective on Thermo Fisher Scientific from $250.00 to $275.00 and gave the stock an “overweight” rating in a report on Monday, September 24th. Goldman Sachs Group lowered Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a report on Monday, September 17th. Zacks Investment Research raised Thermo Fisher Scientific from a “hold” rating to a “buy” rating and set a $274.00 price objective on the stock in a report on Monday, October 1st. UBS Group initiated coverage on Thermo Fisher Scientific in a report on Tuesday, October 9th. They set a “buy” rating and a $295.00 price objective on the stock. Finally, Citigroup upped their price objective on Thermo Fisher Scientific from $260.00 to $280.00 and gave the stock a “buy” rating in a report on Wednesday, October 10th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $263.64.

In related news, Director Tyler Jacks sold 1,100 shares of the stock in a transaction on Tuesday, December 4th. The stock was sold at an average price of $251.98, for a total transaction of $277,178.00. Following the sale, the director now owns 5,879 shares of the company’s stock, valued at $1,481,390.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 125,520 shares of the stock in a transaction on Monday, October 1st. The shares were sold at an average price of $247.50, for a total value of $31,066,200.00. The disclosure for this sale can be found here. Insiders sold 148,627 shares of company stock worth $36,744,510 in the last three months. 0.49% of the stock is owned by corporate insiders.

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About Thermo Fisher Scientific

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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

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