Lifeworks Advisors LLC Purchases New Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Lifeworks Advisors LLC acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 364 shares of the medical research company’s stock, valued at approximately $225,000.

A number of other large investors have also modified their holdings of TMO. Signature Resources Capital Management LLC raised its stake in shares of 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 valued at $25,000 after purchasing an additional 35 shares during the period. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific in the 2nd quarter worth $29,000. Stephens Consulting LLC boosted its position in Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the last quarter. Headlands Technologies LLC purchased a new stake in shares of Thermo Fisher Scientific during the first quarter worth about $32,000. Finally, Bank & Trust Co acquired a new position in shares of Thermo Fisher Scientific in the second quarter worth about $33,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TMO. Royal Bank of Canada dropped their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Wells Fargo & Company reduced their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Bank of America lifted their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Stock Performance

TMO opened at $513.08 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $464.17 and a twelve month high of $627.88. The stock has a market cap of $196.25 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79. The business’s 50 day moving average is $588.39 and its 200-day moving average is $582.69. 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 (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the previous year, the firm posted $5.69 EPS. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, analysts predict that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Thermo Fisher Scientific announced that its board has approved a share repurchase plan on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the transaction, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. 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 9,000 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at $8,076,178.88. The trade was a 38.12 % decrease in their ownership of the stock. 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 quarter. 0.34% of the stock is currently owned by company insiders.

About Thermo Fisher Scientific

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.