Thermo Fisher Scientific Inc. $TMO Stake Decreased by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 42,454 shares of the medical research company’s stock after selling 2,364 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $20,591,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cullen Frost Bankers Inc. boosted its holdings in Thermo Fisher Scientific by 8.4% during the third quarter. Cullen Frost Bankers Inc. now owns 35,558 shares of the medical research company’s stock worth $17,246,000 after buying an additional 2,769 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Thermo Fisher Scientific by 33.3% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 55,663 shares of the medical research company’s stock worth $26,998,000 after purchasing an additional 13,904 shares during the period. Whittier Trust Co. increased its stake in shares of Thermo Fisher Scientific by 28.6% in the third quarter. Whittier Trust Co. now owns 119,518 shares of the medical research company’s stock worth $57,969,000 after acquiring an additional 26,584 shares during the last quarter. Quilter Plc boosted its position in Thermo Fisher Scientific by 1.0% during the third quarter. Quilter Plc now owns 278,786 shares of the medical research company’s stock valued at $135,217,000 after purchasing an additional 2,675 shares during the last quarter. Finally, Frazier Financial Advisors LLC increased its position in Thermo Fisher Scientific by 30.5% in the 3rd quarter. Frazier Financial Advisors LLC now owns 107 shares of the medical research company’s stock worth $52,000 after purchasing an additional 25 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $625.42 on Monday. The firm has a market capitalization of $234.98 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 4.11 and a beta of 0.91. The company has a quick ratio of 1.11, a current ratio of 1.50 and a debt-to-equity ratio of 0.62. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99. The firm has a 50-day moving average price of $590.88 and a 200 day moving average price of $532.39.

Thermo Fisher Scientific Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Monday, December 15th were given a dividend of $0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.94%.

Thermo Fisher Scientific declared that its Board of Directors has approved a stock repurchase plan on Thursday, November 6th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on TMO shares. Morgan Stanley upped their target price on Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. Redburn Partners set a $580.00 target price on shares of Thermo Fisher Scientific in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Thermo Fisher Scientific in a report on Thursday, October 23rd. TD Cowen reiterated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Wednesday, January 7th. Finally, Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $625.47.

Insider Buying and Selling

In other news, VP Lisa P. Britt sold 10,225 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $571.62, for a total value of $5,844,814.50. Following the sale, the vice president owned 14,145 shares of the company’s stock, valued at approximately $8,085,564.90. This represents a 41.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michel Lagarde sold 32,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the transaction, the chief operating officer owned 65,480 shares in the company, valued at $38,200,377.20. The trade was a 32.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 124,517 shares of company stock valued at $72,363,568 in the last ninety days. Insiders own 0.33% of the company’s stock.

About Thermo Fisher Scientific

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.