Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Fiduciary Trust Co

Fiduciary Trust Co boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,668 shares of the medical research company’s stock after purchasing an additional 196 shares during the period. Fiduciary Trust Co’s holdings in Thermo Fisher Scientific were worth $41,239,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Providence Capital Advisors LLC lifted its holdings in Thermo Fisher Scientific by 31.5% in the 3rd quarter. Providence Capital Advisors LLC now owns 13,752 shares of the medical research company’s stock valued at $8,507,000 after acquiring an additional 3,296 shares during the last quarter. RPg Family Wealth Advisory LLC acquired a new position in Thermo Fisher Scientific in the third quarter worth approximately $50,000. CreativeOne Wealth LLC increased its holdings in shares of Thermo Fisher Scientific by 13.0% in the third quarter. CreativeOne Wealth LLC now owns 6,027 shares of the medical research company’s stock valued at $3,728,000 after buying an additional 693 shares in the last quarter. BNP Paribas boosted its stake in shares of Thermo Fisher Scientific by 1.6% during the 3rd quarter. BNP Paribas now owns 45,999 shares of the medical research company’s stock worth $28,362,000 after acquiring an additional 740 shares in the last quarter. Finally, Cynosure Group LLC grew its holdings in shares of Thermo Fisher Scientific by 14.5% in the 3rd quarter. Cynosure Group LLC now owns 1,655 shares of the medical research company’s stock worth $1,024,000 after acquiring an additional 209 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Up 1.7 %

TMO opened at $521.67 on Thursday. Thermo Fisher Scientific Inc. has a 1-year low of $480.57 and a 1-year high of $627.88. The business has a 50 day moving average of $569.98 and a 200-day moving average of $578.78. The stock has a market capitalization of $199.54 billion, a price-to-earnings ratio of 32.71, a P/E/G ratio of 3.40 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 (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (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 company had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the previous year, the firm posted $5.69 EPS. The business’s revenue was up .2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

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

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is presently 9.78%.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total value 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 represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $552.86, for a total value of $4,975,740.00. Following the sale, the chief executive officer now directly owns 14,608 shares in the company, 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. Over the last ninety days, insiders sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on TMO shares. Stephens started coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target for the company. Royal Bank of Canada dropped their target price on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company reduced their price target on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Morgan Stanley boosted 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 note on Friday, September 20th. Finally, TD Cowen lifted their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific 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.