Strs Ohio Purchases 28,867 Shares of Thermo Fisher Scientific Inc. $TMO

Strs Ohio lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.0% during the third quarter, HoldingsChannel.com reports. The firm owned 251,524 shares of the medical research company’s stock after purchasing an additional 28,867 shares during the period. Strs Ohio’s holdings in Thermo Fisher Scientific were worth $121,994,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Highline Wealth Partners LLC grew its holdings in shares of Thermo Fisher Scientific by 126.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after acquiring an additional 33 shares in the last quarter. Capital A Wealth Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after buying an additional 66 shares during the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in shares of Thermo Fisher Scientific by 406.7% in the 2nd quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock valued at $31,000 after purchasing an additional 61 shares during the period. HighMark Wealth Management LLC boosted its stake in shares of Thermo Fisher Scientific by 140.6% during the 2nd quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock worth $31,000 after acquiring an additional 45 shares during the period. Finally, Howard Hughes Medical Institute acquired a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $33,000. 89.23% of the stock is owned by institutional investors.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Frederick M. Lowery sold 6,913 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the transaction, the executive vice president directly owned 14,367 shares of the company’s stock, valued at approximately $8,586,868.56. This represents a 32.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Lisa P. Britt sold 10,225 shares of the company’s stock in a transaction on Friday, November 7th. The stock was sold at an average price of $571.62, for a total transaction of $5,844,814.50. Following the transaction, the vice president owned 14,145 shares in the company, valued at approximately $8,085,564.90. The trade was a 41.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 131,767 shares of company stock worth $76,467,793. 0.33% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $639.03 on Friday. The stock has a market cap of $240.09 billion, a P/E ratio of 36.92, a price-to-earnings-growth ratio of 4.19 and a beta of 0.91. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99. The stock’s 50-day moving average is $589.96 and its 200-day moving average is $529.43.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 EPS for the quarter, topping analysts’ consensus estimates of $5.50 by $0.29. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The company had revenue of $11.12 billion for the quarter, compared to analyst estimates of $10.90 billion. During the same period in the previous year, the firm earned $5.28 earnings per share. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. 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 approved a stock buyback plan on Thursday, November 6th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on TMO. Stifel Nicolaus increased their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Evercore ISI restated an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. JPMorgan Chase & Co. boosted their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a report on Thursday, October 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a report on Friday, January 9th. Finally, The Goldman Sachs Group began coverage on Thermo Fisher Scientific in a research report on Tuesday, December 9th. They set a “buy” rating and a $685.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $625.47.

Thermo Fisher Scientific 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.