Thermo Fisher Scientific Inc. $TMO Shares Purchased by Peterson Wealth Services

Peterson Wealth Services raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1,043.6% during the third quarter, Holdings Channel reports. The firm owned 4,197 shares of the medical research company’s stock after purchasing an additional 3,830 shares during the period. Peterson Wealth Services’ holdings in Thermo Fisher Scientific were worth $2,036,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. TIAA Trust National Association raised its holdings in shares of Thermo Fisher Scientific by 10.5% in the 2nd quarter. TIAA Trust National Association now owns 123,948 shares of the medical research company’s stock worth $50,256,000 after purchasing an additional 11,817 shares during the period. Lombard Odier Asset Management Switzerland SA increased its position in Thermo Fisher Scientific by 8.4% during the 2nd quarter. Lombard Odier Asset Management Switzerland SA now owns 14,490 shares of the medical research company’s stock worth $5,875,000 after purchasing an additional 1,128 shares in the last quarter. Weaver Capital Management LLC purchased a new position in Thermo Fisher Scientific in the third quarter valued at approximately $506,000. Heritage Investors Management Corp grew its stake in Thermo Fisher Scientific by 9.6% during the second quarter. Heritage Investors Management Corp now owns 56,587 shares of the medical research company’s stock worth $22,944,000 after buying an additional 4,971 shares during the period. Finally, VELA Investment Management LLC increased its position in shares of Thermo Fisher Scientific by 65.5% in the third quarter. VELA Investment Management LLC now owns 9,305 shares of the medical research company’s stock worth $4,513,000 after acquiring an additional 3,683 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Frederick M. Lowery sold 6,912 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the sale, the executive vice president owned 14,367 shares in the company, valued at $8,360,731.98. This represents a 32.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Michel Lagarde sold 22,046 shares of Thermo Fisher Scientific stock in a transaction that occurred on Thursday, December 4th. The stock was sold at an average price of $563.56, for a total value of $12,424,243.76. Following the completion of the transaction, the chief operating officer owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. The trade was a 20.77% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 124,517 shares of company stock valued at $72,363,568 in the last three months. Corporate insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Stock Performance

Shares of TMO opened at $582.07 on Tuesday. The firm has a market cap of $218.69 billion, a price-to-earnings ratio of 32.81, a PEG ratio of 3.82 and a beta of 0.93. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The business’s 50 day moving average is $593.88 and its two-hundred day moving average is $539.86. Thermo Fisher Scientific Inc. has a 52-week low of $385.46 and a 52-week high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The business’s revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $6.10 earnings per share. Analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has approved a stock buyback plan on Thursday, November 6th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were given 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 9.70%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Barclays upped their price target on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the stock an “overweight” rating in a research report on Friday. Hsbc Global Res raised Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 1st. Stifel Nicolaus raised their target price on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 9th. TD Cowen decreased their price target on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a report on Friday. Finally, The Goldman Sachs Group assumed coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 9th. They set a “buy” rating and a $685.00 price objective on the stock. One 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 company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $633.68.

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.