Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by Peak Asset Management LLC

Peak Asset Management LLC raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.2% during the third quarter, HoldingsChannel reports. The fund owned 3,403 shares of the medical research company’s stock after acquiring an additional 286 shares during the quarter. Peak Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $2,105,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Signature Resources Capital Management LLC increased its holdings in shares of Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. New Millennium Group LLC bought a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at about $29,000. Stephens Consulting LLC lifted its holdings in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares during the last quarter. Headlands Technologies LLC acquired a new position in Thermo Fisher Scientific in the first quarter valued at approximately $32,000. Finally, Bank & Trust Co bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth approximately $33,000. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on TMO shares. Stifel Nicolaus dropped their target price on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Sanford C. Bernstein decreased their price objective on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Robert W. Baird reduced their price target on 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 reduced their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Wells Fargo & Company dropped their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,150 shares of company stock worth $20,651,865 in the last three months. 0.34% of the stock is owned by insiders.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $541.90 on Thursday. The stock’s fifty day simple moving average is $591.27 and its 200-day simple moving average is $583.32. The company has a market capitalization of $207.28 billion, a price-to-earnings ratio of 33.97, a P/E/G ratio of 3.57 and a beta of 0.79. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 1-year low of $455.22 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period last year, the company posted $5.69 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Thermo Fisher Scientific Company 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.