Thermo Fisher Scientific Inc. $TMO Stock Holdings Reduced by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP reduced its Thermo Fisher (NYSE: TMO) position by 84.6% in Q3, selling 23,864 shares and leaving 4,348 shares worth about $2.11 million.
• Thermo Fisher beat quarterly expectations with EPS of $6.57 (vs. $6.45) and revenue of $12.22 billion (up 7.2% year-over-year), and analysts forecast roughly $23.28 in EPS for the current year.
• The board authorized a $5.0 billion share repurchase (about 2.4% of outstanding stock) and raised the quarterly dividend to $0.47 per share, signaling management confidence despite a modest yield.

Quantbot Technologies LP cut its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 84.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,348 shares of the medical research company's stock after selling 23,864 shares during the period. Quantbot Technologies LP's holdings in Thermo Fisher Scientific were worth $2,109,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Ninepoint Partners LP bought a new stake in Thermo Fisher Scientific in the third quarter worth approximately $254,000. Allianz SE lifted its stake in shares of Thermo Fisher Scientific by 1.3% in the 3rd quarter. Allianz SE now owns 15,552 shares of the medical research company's stock valued at $7,543,000 after purchasing an additional 200 shares during the last quarter. 1ST Source Bank increased its position in Thermo Fisher Scientific by 0.7% during the third quarter. 1ST Source Bank now owns 16,135 shares of the medical research company's stock worth $7,826,000 after buying an additional 112 shares during the last quarter. Handelsbanken Fonder AB raised its holdings in Thermo Fisher Scientific by 40.3% during the third quarter. Handelsbanken Fonder AB now owns 703,138 shares of the medical research company's stock valued at $341,036,000 after buying an additional 202,017 shares in the last quarter. Finally, Generali Investments Management Co LLC lifted its position in shares of Thermo Fisher Scientific by 18.6% in the third quarter. Generali Investments Management Co LLC now owns 7,038 shares of the medical research company's stock worth $3,414,000 after buying an additional 1,104 shares during the last quarter. Institutional investors own 89.23% of the company's stock.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.33% of the stock is owned by company insiders.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $513.19 on Thursday. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89. The firm's 50-day moving average is $570.10 and its 200-day moving average is $548.43. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99. The company has a market cap of $190.64 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 2.93 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, topping analysts' consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. During the same period last year, the business earned $6.10 earnings per share. The firm's revenue for the quarter was up 7.2% compared to the same quarter last year. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific announced that its board has authorized a stock repurchase plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be paid a dividend of $0.47 per share. This is an increase from Thermo Fisher Scientific's previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, March 13th. Thermo Fisher Scientific's dividend payout ratio is presently 9.70%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TMO shares. Weiss Ratings reissued a "hold (c)" rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. Wells Fargo & Company set a $683.00 price objective on shares of Thermo Fisher Scientific in a research note on Friday, January 30th. Wall Street Zen upgraded shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research note on Saturday, February 28th. The Goldman Sachs Group began coverage on shares of Thermo Fisher Scientific in a research report on Tuesday, December 9th. They set a "buy" rating and a $685.00 target price for the company. Finally, TD Cowen lowered their price target on Thermo Fisher Scientific from $696.00 to $683.00 and set a "buy" rating on the stock in a research report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $633.68.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific NYSE: TMO is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.

Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.