Prudential Financial Inc. boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 37.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 870,177 shares of the medical research company’s stock after buying an additional 236,310 shares during the period. Prudential Financial Inc.’s holdings in Thermo Fisher Scientific were worth $212,392,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Candriam Luxembourg S.C.A. increased its stake in Thermo Fisher Scientific by 39.4% in the third quarter. Candriam Luxembourg S.C.A. now owns 79,618 shares of the medical research company’s stock worth $19,433,000 after purchasing an additional 22,488 shares during the period. Gilbert & Cook Inc. purchased a new stake in Thermo Fisher Scientific in the third quarter worth $212,000. Associated Banc Corp increased its stake in Thermo Fisher Scientific by 13.5% in the third quarter. Associated Banc Corp now owns 35,617 shares of the medical research company’s stock worth $8,693,000 after purchasing an additional 4,237 shares during the period. AGF Investments America Inc. increased its stake in Thermo Fisher Scientific by 12.5% in the third quarter. AGF Investments America Inc. now owns 55,023 shares of the medical research company’s stock worth $13,430,000 after purchasing an additional 6,112 shares during the period. Finally, Segment Wealth Management LLC purchased a new stake in Thermo Fisher Scientific in the third quarter worth $318,000. Institutional investors own 85.41% of the company’s stock.

In related news, CEO Marc N. Casper sold 125,520 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $247.50, for a total transaction of $31,066,200.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.49% of the stock is owned by company insiders.

TMO has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Thermo Fisher Scientific from a “hold” rating to a “sell” rating in a research note on Tuesday, July 24th. ValuEngine upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Tuesday, July 24th. JPMorgan Chase & Co. restated an “overweight” rating and set a $300.00 price target on shares of Thermo Fisher Scientific in a research note on Thursday, July 26th. Leerink Swann raised their price target on Thermo Fisher Scientific from $239.00 to $255.00 and gave the company an “outperform” rating in a research note on Thursday, July 26th. Finally, Morgan Stanley raised their price target on Thermo Fisher Scientific from $233.00 to $242.00 and gave the company an “overweight” rating in a research note on Thursday, July 26th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $261.45.

Shares of Thermo Fisher Scientific stock opened at $235.08 on Thursday. The firm has a market cap of $95.14 billion, a PE ratio of 24.77, a PEG ratio of 1.71 and a beta of 1.08. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.27 and a current ratio of 1.84. Thermo Fisher Scientific Inc. has a 12 month low of $181.51 and a 12 month high of $249.95.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results on Wednesday, October 24th. The medical research company reported $2.62 EPS for the quarter, beating the consensus estimate of $2.55 by $0.07. The firm had revenue of $5.92 billion for the quarter, compared to analyst estimates of $5.70 billion. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. The business’s revenue for the quarter was up 15.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.31 earnings per share. Sell-side analysts predict that Thermo Fisher Scientific Inc. will post 11.04 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share repurchase plan on Friday, September 7th that authorizes the company to buyback $2.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy up to 2.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s board of directors believes its shares are undervalued.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 17th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Friday, December 14th. Thermo Fisher Scientific’s payout ratio is currently 7.17%.

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Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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