Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by Strategy Asset Managers LLC

Strategy Asset Managers LLC raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 31.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,195 shares of the medical research company’s stock after buying an additional 524 shares during the period. Strategy Asset Managers LLC’s holdings in Thermo Fisher Scientific were worth $1,358,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Signature Resources Capital Management LLC boosted its position in Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. Peterson Financial Group Inc. acquired a new stake in Thermo Fisher Scientific in the 3rd quarter valued at $27,000. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth $29,000. Stephens Consulting LLC raised its position in Thermo Fisher Scientific by 116.0% during 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 period. Finally, Bank & Trust Co acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $33,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $509.15 on Wednesday. Thermo Fisher Scientific Inc. has a 52 week low of $465.90 and a 52 week high of $627.88. The stock’s fifty day moving average is $581.75 and its two-hundred day moving average is $581.46. The company has a market capitalization of $194.75 billion, a P/E ratio of 31.92, a P/E/G ratio of 3.39 and a beta of 0.79. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter in the prior year, the company posted $5.69 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was up .2% compared to the same quarter last year. Equities analysts expect that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific declared that its board has approved a stock buyback program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

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 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 9,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the sale, the chief executive officer now owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. This represents a 38.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 completion of the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock worth $20,651,865 over the last ninety days. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on TMO shares. Bank of America lifted their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a report on Monday, September 16th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. TD Cowen increased their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Redburn Atlantic started coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 target price on the stock. Finally, Morgan Stanley increased their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and a consensus price target of $649.33.

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.