Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Holdings Lifted by Cerity Partners LLC

Cerity Partners LLC increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 20.4% in the third quarter, HoldingsChannel reports. The firm owned 181,424 shares of the medical research company’s stock after purchasing an additional 30,687 shares during the period. Cerity Partners LLC’s holdings in Thermo Fisher Scientific were worth $112,224,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Gamco Investors INC. ET AL raised its position in Thermo Fisher Scientific by 2.2% in the first quarter. Gamco Investors INC. ET AL now owns 4,116 shares of the medical research company’s stock worth $2,392,000 after purchasing an additional 90 shares in the last quarter. LRI Investments LLC acquired a new stake in Thermo Fisher Scientific in the first quarter worth about $154,000. Kestra Advisory Services LLC lifted its position in Thermo Fisher Scientific by 8.2% during the 1st quarter. Kestra Advisory Services LLC now owns 28,587 shares of the medical research company’s stock valued at $16,615,000 after purchasing an additional 2,176 shares during the period. Bamco Inc. NY grew its position in shares of Thermo Fisher Scientific by 19.7% during the 1st quarter. Bamco Inc. NY now owns 34,410 shares of the medical research company’s stock worth $19,999,000 after buying an additional 5,672 shares during the period. Finally, Bellevue Group AG raised its stake in shares of Thermo Fisher Scientific by 13.1% during the first quarter. Bellevue Group AG now owns 39,956 shares of the medical research company’s stock worth $23,223,000 after buying an additional 4,614 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares in the company, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the transaction, the chief executive officer now directly owns 14,608 shares in the company, valued at approximately $8,076,178.88. This trade represents a 38.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Bank of America increased their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Stephens initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target for the company. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. TD Cowen raised their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Stock Down 0.6 %

Thermo Fisher Scientific stock opened at $513.26 on Friday. Thermo Fisher Scientific Inc. has a fifty-two week low of $480.57 and a fifty-two week high of $627.88. The firm has a market capitalization of $196.32 billion, a PE ratio of 32.18, a P/E/G ratio of 3.41 and a beta of 0.79. The company’s 50-day moving average is $575.70 and its 200-day moving average is $580.10. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $5.69 EPS. 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 has authorized a share buyback program on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

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

About Thermo Fisher Scientific

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.