Pathstone Holdings LLC Acquires 8,408 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Pathstone Holdings LLC increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.5% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 75,556 shares of the medical research company’s stock after acquiring an additional 8,408 shares during the period. Pathstone Holdings LLC’s holdings in Thermo Fisher Scientific were worth $46,739,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Signature Resources Capital Management LLC raised its holdings in shares of Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares in the last quarter. Peterson Financial Group Inc. acquired a new position in Thermo Fisher Scientific during the third quarter worth $27,000. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific during the second quarter valued at $29,000. Stephens Consulting LLC grew its holdings in shares of Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the last quarter. Finally, Bank & Trust Co acquired a new stake in shares of Thermo Fisher Scientific during the 2nd quarter worth about $33,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the topic of several research analyst reports. Stifel Nicolaus decreased their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Raymond James raised their target price on Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Royal Bank of Canada reduced their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Bank of America boosted their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Insider Activity

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

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO opened at $501.50 on Tuesday. Thermo Fisher Scientific Inc. has a fifty-two week low of $465.90 and a fifty-two week high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The company has a market capitalization of $191.82 billion, a price-to-earnings ratio of 31.44, a P/E/G ratio of 3.39 and a beta of 0.79. The firm’s 50 day simple moving average is $584.05 and its 200 day simple moving average is $581.90.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm’s revenue was up .2% compared to the same quarter last year. During the same quarter last year, the business posted $5.69 EPS. As a group, sell-side analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has approved a stock buyback program on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

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.