Cornerstone Advisors LLC Acquires 15,734 Shares of Thermo Fisher Scientific Inc. $TMO

Cornerstone Advisors LLC boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 121.9% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,646 shares of the medical research company’s stock after acquiring an additional 15,734 shares during the period. Cornerstone Advisors LLC’s holdings in Thermo Fisher Scientific were worth $19,337,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in Thermo Fisher Scientific by 3.9% during the 3rd quarter. Russell Investments Group Ltd. now owns 351,042 shares of the medical research company’s stock valued at $237,133,000 after purchasing an additional 13,133 shares during the period. Allspring Global Investments Holdings LLC grew its position in Thermo Fisher Scientific by 9.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 140,228 shares of the medical research company’s stock worth $91,500,000 after purchasing an additional 12,414 shares during the last quarter. Leelyn Smith LLC increased its stake in shares of Thermo Fisher Scientific by 0.8% in the third quarter. Leelyn Smith LLC now owns 9,789 shares of the medical research company’s stock valued at $6,608,000 after purchasing an additional 77 shares during the period. Parallel Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 0.4% in the third quarter. Parallel Advisors LLC now owns 37,831 shares of the medical research company’s stock valued at $25,538,000 after purchasing an additional 137 shares during the period. Finally, Mader & Shannon Wealth Management Inc. raised its holdings in shares of Thermo Fisher Scientific by 1.7% during the third quarter. Mader & Shannon Wealth Management Inc. now owns 18,775 shares of the medical research company’s stock valued at $12,674,000 after buying an additional 316 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $699.98 on Friday. The stock has a market cap of $259.36 billion, a price-to-earnings ratio of 36.92, a PEG ratio of 2.85 and a beta of 0.84. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.81 and a quick ratio of 1.41. Thermo Fisher Scientific Inc. has a 12 month low of $435.27 and a 12 month high of $727.56. The stock’s 50 day moving average price is $670.82 and its 200 day moving average price is $556.81.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 21st. The medical research company reported $6.68 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.40 by $0.28. Thermo Fisher Scientific had a return on equity of 17.33% and a net margin of 14.94%. The firm had revenue of $12.14 billion during the quarter, compared to analyst estimates of $11.95 billion. During the same period last year, the company posted $5.79 EPS. The firm’s quarterly revenue was up 9.1% on a year-over-year basis. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 25.27 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 15th. Stockholders of record on Tuesday, December 15th will be issued a $0.47 dividend. The ex-dividend date is Tuesday, December 15th. This represents a $1.88 annualized dividend and a dividend yield of 0.3%. Thermo Fisher Scientific’s dividend payout ratio is 9.92%.

Key Headlines Impacting Thermo Fisher Scientific

Investors following TMO have been watching these headlines:

• Positive Sentiment: A Sound Shore Management investor letter describes Thermo Fisher as near a cyclical bottom, with potential to re-accelerate toward historical growth. That outlook may support sentiment, though it is an investor’s assessment rather than company guidance. Article: Thermo Fisher Scientific cyclical bottom signals re-acceleration
• Positive Sentiment: Industry reports forecast substantial growth in markets where Thermo Fisher competes, including single-use bioprocessing, cell lysis and fractionation, and cell-culture coatings. These projections point to potential demand tailwinds, but are third-party market estimates, not company-specific forecasts. Article: Single-use bioprocessing market report Article: Cell lysis and fractionation market report Article: Cell culture protein surface coating market report
• Neutral Sentiment: CEO Marc Casper is scheduled to join a UBS fireside chat on November 19. Investors may listen for business commentary, but the announcement itself contains no new financial or operational information. Article: UBS CEO Call Series

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $629.27, for a total value of $6,292,700.00. Following the sale, the chief executive officer directly owned 123,925 shares in the company, valued at approximately $77,982,284.75. The trade was a 7.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP Lisa P. Britt sold 11,440 shares of the company’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $613.12, for a total transaction of $7,014,092.80. Following the completion of the sale, the vice president directly owned 14,784 shares of the company’s stock, valued at $9,064,366.08. The trade was a 43.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 24,546 shares of company stock valued at $15,479,192 in the last ninety days. Company insiders own 0.33% of the company’s stock.

Analyst Upgrades and Downgrades

TMO has been the subject of several analyst reports. Guggenheim assumed coverage on Thermo Fisher Scientific in a research report on Thursday, October 15th. They set a “buy” rating and a $740.00 price objective for the company. Rothschild & Co Redburn raised their target price on Thermo Fisher Scientific from $725.00 to $750.00 and gave the company a “buy” rating in a research report on Thursday, October 22nd. TD Cowen lifted their target price on Thermo Fisher Scientific from $760.00 to $810.00 and gave the company a “buy” rating in a research note on Thursday, October 22nd. HSBC upgraded Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating and boosted their price target for the stock from $660.00 to $690.00 in a research report on Tuesday, September 1st. Finally, Scotiabank started coverage on Thermo Fisher Scientific in a research note on Wednesday, September 9th. They issued an “outperform” rating for the company. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $683.64.

About Thermo Fisher Scientific

Thermo Fisher Scientific develops and supplies products and services used in scientific research, clinical diagnostics, and pharmaceutical and biotechnology manufacturing. Its offerings include laboratory instruments, reagents and consumables, analytical equipment, diagnostic tests, and services that support drug development and clinical research. The company operates through businesses focused on life sciences, analytical instruments, specialty diagnostics, and laboratory products and biopharma services.