Perpetual Ltd Has $119.63 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Perpetual Ltd reduced its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 18.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 229,962 shares of the medical research company’s stock after selling 53,524 shares during the quarter. Thermo Fisher Scientific makes up about 1.4% of Perpetual Ltd’s portfolio, making the stock its 20th largest position. Perpetual Ltd owned 0.06% of Thermo Fisher Scientific worth $119,633,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TMO. IFG Advisors LLC grew its holdings in Thermo Fisher Scientific by 3.3% during the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after acquiring an additional 17 shares during the period. Trivant Custom Portfolio Group LLC lifted its stake in Thermo Fisher Scientific by 0.4% in the third quarter. Trivant Custom Portfolio Group LLC now owns 4,398 shares of the medical research company’s stock valued at $2,720,000 after buying an additional 19 shares during the period. Axiom Advisory LLC boosted its holdings in shares of Thermo Fisher Scientific by 1.6% during the 3rd quarter. Axiom Advisory LLC now owns 1,216 shares of the medical research company’s stock worth $720,000 after buying an additional 19 shares in the last quarter. Angeles Wealth Management LLC increased its stake in shares of Thermo Fisher Scientific by 0.5% in the 3rd quarter. Angeles Wealth Management LLC now owns 3,921 shares of the medical research company’s stock valued at $2,425,000 after acquiring an additional 19 shares in the last quarter. Finally, Bangor Savings Bank boosted its stake in Thermo Fisher Scientific by 6.0% during the fourth quarter. Bangor Savings Bank now owns 334 shares of the medical research company’s stock worth $174,000 after acquiring an additional 19 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Analysts Set New Price Targets

TMO has been the topic of several research reports. StockNews.com upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a report on Tuesday, January 14th. Stifel Nicolaus reduced their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company lowered their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Barclays reduced their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Finally, Scotiabank started coverage on shares of Thermo Fisher Scientific in a research note on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 price objective on the stock. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Thermo Fisher Scientific presently has an average rating of “Moderate Buy” and a consensus target price of $648.95.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $530.26, for a total value of $5,302,600.00. Following the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at $58,960,669.92. This trade represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,150 shares of company stock worth $25,954,465. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

TMO opened at $559.72 on Tuesday. The firm has a market cap of $214.09 billion, a P/E ratio of 35.09, a PEG ratio of 3.71 and a beta of 0.76. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. Thermo Fisher Scientific Inc. has a fifty-two week low of $493.30 and a fifty-two week high of $627.88. The firm has a 50-day moving average of $529.96 and a 200 day moving average of $568.56.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same quarter last year, the business posted $5.69 EPS. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.28%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.78%.

Thermo Fisher Scientific declared that its board has approved a share repurchase plan on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Company Profile

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.