Sawgrass Asset Management LLC Has $7.43 Million Holdings in Thermo Fisher Scientific Inc. $TMO

Sawgrass Asset Management LLC lowered its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 20.5% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,324 shares of the medical research company’s stock after selling 3,953 shares during the period. Sawgrass Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $7,432,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Frazier Financial Advisors LLC grew its position in Thermo Fisher Scientific by 30.5% during the third quarter. Frazier Financial Advisors LLC now owns 107 shares of the medical research company’s stock worth $52,000 after buying an additional 25 shares in the last quarter. Sagespring Wealth Partners LLC grew its stake in Thermo Fisher Scientific by 50.6% during the third quarter. Sagespring Wealth Partners LLC now owns 3,709 shares of the medical research company’s stock worth $1,799,000 after buying an additional 1,246 shares in the last quarter. Biltmore Family Office LLC increased its holdings in Thermo Fisher Scientific by 4.0% in the 3rd quarter. Biltmore Family Office LLC now owns 1,581 shares of the medical research company’s stock valued at $767,000 after buying an additional 61 shares during the period. BAM Wealth Management LLC bought a new stake in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $901,000. Finally, Trek Financial LLC boosted its position in shares of Thermo Fisher Scientific by 40.8% during the 3rd quarter. Trek Financial LLC now owns 3,091 shares of the medical research company’s stock worth $1,499,000 after acquiring an additional 896 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $625.42 on Friday. The stock has a 50-day moving average price of $590.88 and a two-hundred day moving average price of $531.60. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The company has a market capitalization of $234.98 billion, a PE ratio of 36.13, a P/E/G ratio of 4.12 and a beta of 0.91. The company has a current ratio of 1.50, a quick ratio of 1.11 and a debt-to-equity ratio of 0.62.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.50 by $0.29. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%.The company had revenue of $11.12 billion during the quarter, compared to the consensus estimate of $10.90 billion. During the same quarter in the prior year, the firm posted $5.28 earnings per share. The firm’s revenue was up 4.9% compared to the same quarter last year. Analysts expect that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share buyback program on Thursday, November 6th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the medical research company to reacquire up to 2.4% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were paid a dividend of $0.43 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.94%.

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, VP Lisa P. Britt sold 10,225 shares of the company’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $571.62, for a total value of $5,844,814.50. Following the sale, the vice president owned 14,145 shares in the company, valued at approximately $8,085,564.90. The trade was a 41.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Frederick M. Lowery sold 6,913 shares of the firm’s stock in a transaction dated Monday, December 1st. The stock was sold at an average price of $597.68, for a total value of $4,131,761.84. Following the transaction, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,586,868.56. This trade represents a 32.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 131,767 shares of company stock valued at $76,467,793 in the last quarter. Insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Leerink Partners boosted their price objective on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Redburn Partners set a $580.00 price target on Thermo Fisher Scientific in a report on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on Thermo Fisher Scientific from $600.00 to $650.00 and gave the stock an “overweight” rating in a research report on Thursday, October 9th. Evercore ISI reiterated an “outperform” rating and issued a $650.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Finally, Hsbc Global Res raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $625.47.

About Thermo Fisher Scientific

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.