Strengthening Families & Communities LLC Purchases 4,825 Shares of Thermo Fisher Scientific Inc. $TMO

Strengthening Families & Communities LLC lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2,695.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,004 shares of the medical research company’s stock after purchasing an additional 4,825 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Thermo Fisher Scientific were worth $2,449,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also 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% during the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after purchasing an additional 33 shares in the last quarter. Capital A Wealth Management LLC grew its stake in 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 worth $30,000 after buying an additional 66 shares in the last quarter. Cloud Capital Management LLC bought a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth $31,000. Howard Hughes Medical Institute bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth $33,000. Finally, Harbor Asset Planning Inc. bought a new position in Thermo Fisher Scientific in the second quarter valued at $34,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Trading Up 0.6%

Shares of TMO opened at $582.07 on Tuesday. The stock has a market capitalization of $218.69 billion, a P/E ratio of 32.81, a PEG ratio of 3.82 and a beta of 0.93. Thermo Fisher Scientific Inc. has a twelve month low of $385.46 and a twelve month high of $643.99. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The firm has a fifty day simple moving average of $593.88 and a two-hundred day simple moving average of $539.86.

Thermo Fisher Scientific (NYSE:TMO) last posted 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 net margin of 15.05% and a return on equity of 16.92%. The company had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. During the same period in the prior year, the business posted $6.10 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its board has approved a share 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 buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. Thermo Fisher Scientific’s payout ratio is 9.70%.

Insiders Place Their Bets

In related news, EVP Frederick M. Lowery sold 6,913 shares of the firm’s stock in a transaction on Monday, December 1st. The stock was sold at an average price of $597.68, for a total value of $4,131,761.84. Following the completion of the sale, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,586,868.56. This trade represents a 32.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Michael D. Shafer sold 10,725 shares of the business’s stock in a transaction on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the transaction, the executive vice president directly owned 18,731 shares in the company, valued at approximately $11,238,600. The trade was a 36.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 124,517 shares of company stock worth $72,363,568 in the last ninety days. Insiders own 0.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on TMO. Evercore ISI reaffirmed an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. JPMorgan Chase & Co. upped their target price on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research note on Thursday, October 9th. The Goldman Sachs Group started coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 9th. They set a “buy” rating and a $685.00 price target on the stock. Leerink Partners upped their price objective on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Finally, Morgan Stanley boosted their price target on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $633.68.

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.