Thermo Fisher Scientific Inc. $TMO Stock Holdings Increased by Fisher Asset Management LLC

Fisher Asset Management LLC grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,721,101 shares of the medical research company’s stock after purchasing an additional 31,298 shares during the period. Fisher Asset Management LLC owned approximately 0.72% of Thermo Fisher Scientific worth $1,319,789,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of TMO. Highline Wealth Partners LLC boosted its holdings in shares of Thermo Fisher Scientific by 126.9% in the third 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 stake in Thermo Fisher Scientific by 825.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 66 shares in the last quarter. Cloud Capital Management LLC acquired a new position in shares of Thermo Fisher Scientific during the 3rd quarter valued at $31,000. Howard Hughes Medical Institute acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at $33,000. Finally, Elevation Wealth Partners LLC boosted its stake in Thermo Fisher Scientific by 35.1% during the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after buying an additional 20 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Frederick M. Lowery sold 6,912 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the sale, the executive vice president directly owned 14,367 shares in the company, valued at $8,360,731.98. This represents a 32.48% 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, COO Michel Lagarde sold 32,000 shares of Thermo Fisher Scientific stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total value of $18,668,480.00. Following the completion of the transaction, the chief operating officer owned 65,480 shares of the company’s stock, valued at approximately $38,200,377.20. The trade was a 32.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 91,358 shares of company stock valued at $52,789,173 in the last three months. 0.33% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Barclays upped their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 2nd. KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price target for the company in a report on Sunday, December 7th. Finally, TD Cowen lowered their price objective on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $520.80 on Monday. The business has a 50 day simple moving average of $574.24 and a 200 day simple moving average of $548.38. Thermo Fisher Scientific Inc. has a one year low of $385.46 and a one year high of $643.99. The company has a market capitalization of $193.47 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 3.01 and a beta of 0.96. The company has a debt-to-equity ratio of 0.67, a current ratio of 1.89 and a quick ratio of 1.53.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the business earned $6.10 earnings per share. On average, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share buyback program on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, March 13th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 0.4%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.70%.

Thermo Fisher Scientific Company 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.