Cantillon Capital Management LLC Has $494.24 Million Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cantillon Capital Management LLC lessened its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.9% during the 3rd quarter, HoldingsChannel reports. The fund owned 799,000 shares of the medical research company’s stock after selling 23,838 shares during the quarter. Thermo Fisher Scientific accounts for about 3.0% of Cantillon Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. Cantillon Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $494,237,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TMO. Signature Resources Capital Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares during the period. Peterson Financial Group Inc. acquired a new position in Thermo Fisher Scientific in the 3rd quarter worth $27,000. New Millennium Group LLC acquired a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $29,000. Stephens Consulting LLC boosted its position in shares of Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares during the period. Finally, Bank & Trust Co bought a new position in shares of Thermo Fisher Scientific during the second quarter worth about $33,000. 89.23% of the stock is owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. The trade was a 1.77 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 9,000 shares of the stock in a transaction on Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the completion of the sale, the chief executive officer now owns 14,608 shares in the company, valued at $8,076,178.88. This trade represents a 38.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,150 shares of company stock valued at $20,651,865 over the last three months. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 2.3 %

TMO opened at $501.50 on Tuesday. The company’s 50-day moving average price is $584.05 and its two-hundred day moving average price is $581.90. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a twelve month low of $465.90 and a twelve month high of $627.88. The stock has a market cap of $191.82 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 3.39 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping 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 business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period last year, the business posted $5.69 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Evercore ISI decreased their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Robert W. Baird decreased their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Royal Bank of Canada dropped 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. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Four 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 stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific 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.