Thermo Fisher Scientific Inc. $TMO Shares Bought by Focus Partners Wealth

Focus Partners Wealth grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 258,747 shares of the medical research company’s stock after acquiring an additional 2,947 shares during the period. Focus Partners Wealth’s holdings in Thermo Fisher Scientific were worth $125,514,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Norges Bank acquired a new position in Thermo Fisher Scientific during the 2nd quarter worth $2,264,615,000. Soundwatch Capital LLC purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $807,713,000. Wellington Management Group LLP grew its position in shares of Thermo Fisher Scientific by 88.9% during the third quarter. Wellington Management Group LLP now owns 2,699,460 shares of the medical research company’s stock worth $1,309,292,000 after buying an additional 1,270,191 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Thermo Fisher Scientific by 54.7% during the third quarter. Bank of New York Mellon Corp now owns 3,571,857 shares of the medical research company’s stock worth $1,732,422,000 after buying an additional 1,262,967 shares during the period. Finally, Franklin Resources Inc. raised its holdings in Thermo Fisher Scientific by 21.0% in the third quarter. Franklin Resources Inc. now owns 5,925,671 shares of the medical research company’s stock valued at $2,874,069,000 after acquiring an additional 1,028,125 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the sale, the executive vice president directly owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This represents a 1.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 5,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $512.40, for a total value of $2,562,000.00. Following the completion of the transaction, the chief executive officer owned 123,925 shares in the company, valued at $63,499,170. This trade represents a 3.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.33% of the stock is currently owned by corporate insiders.

Thermo Fisher Scientific Trading Down 2.5%

TMO opened at $463.99 on Monday. The firm has a market cap of $172.36 billion, a price-to-earnings ratio of 26.15, a price-to-earnings-growth ratio of 2.68 and a beta of 0.96. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The business’s 50 day moving average is $557.83 and its two-hundred day moving average is $549.01. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) 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 business had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. During the same period last year, the firm posted $6.10 earnings per share. The company’s revenue for the quarter was up 7.2% compared to the same quarter last year. On average, research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be paid a $0.47 dividend. This is a boost 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 (DPR) is presently 10.60%.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Citigroup boosted their price target on shares of Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Stifel Nicolaus lifted their price objective on shares of Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. Weiss Ratings reiterated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Saturday, February 28th. Finally, Evercore reaffirmed an “outperform” rating and set a $650.00 price target on shares of Thermo Fisher Scientific in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $633.68.

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.