First National Advisers LLC increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating) by 39.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,969 shares of the medical research company's stock after purchasing an additional 554 shares during the period. Thermo Fisher Scientific accounts for 1.5% of First National Advisers LLC's investment portfolio, making the stock its 11th largest holding. First National Advisers LLC's holdings in Thermo Fisher Scientific were worth $999,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Grayhawk Investment Strategies Inc. bought a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $26,000. Tortoise Investment Management LLC lifted its stake in shares of Thermo Fisher Scientific by 410.0% in the 2nd quarter. Tortoise Investment Management LLC now owns 51 shares of the medical research company's stock valued at $28,000 after purchasing an additional 41 shares during the last quarter. Lowe Wealth Advisors LLC increased its position in shares of Thermo Fisher Scientific by 160.0% during the 3rd quarter. Lowe Wealth Advisors LLC now owns 52 shares of the medical research company's stock valued at $26,000 after purchasing an additional 32 shares during the last quarter. Better Money Decisions LLC purchased a new stake in Thermo Fisher Scientific during the 2nd quarter valued at $29,000. Finally, New Millennium Group LLC bought a new position in Thermo Fisher Scientific during the second quarter valued at $29,000. Hedge funds and other institutional investors own 85.92% of the company's stock.
Get Thermo Fisher Scientific alerts:Insider Buying and Selling at Thermo Fisher Scientific
In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 8,200 shares of the stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $487.45, for a total transaction of $3,997,090.00. Following the completion of the sale, the chief executive officer now directly owns 178,005 shares of the company's stock, valued at $86,768,537.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 8,200 shares of the stock in a transaction dated Thursday, November 3rd. The shares were sold at an average price of $487.45, for a total transaction of $3,997,090.00. Following the completion of the sale, the chief executive officer now directly owns 178,005 shares of the company's stock, valued at $86,768,537.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $509.97, for a total transaction of $5,099,700.00. Following the transaction, the chief executive officer now owns 178,005 shares in the company, valued at approximately $90,777,209.85. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 31,475 shares of company stock valued at $16,073,443. 0.43% of the stock is currently owned by insiders.
Thermo Fisher Scientific Stock Down 1.9 %
NYSE:TMO traded down $11.24 during mid-day trading on Wednesday, reaching $569.48. The company's stock had a trading volume of 394,897 shares, compared to its average volume of 1,950,869. Thermo Fisher Scientific Inc. has a 1 year low of $475.77 and a 1 year high of $618.35. The stock has a fifty day moving average of $556.73 and a 200-day moving average of $547.95. The firm has a market capitalization of $223.35 billion, a PE ratio of 32.64, a price-to-earnings-growth ratio of 2.11 and a beta of 0.83. The company has a quick ratio of 1.22, a current ratio of 1.74 and a debt-to-equity ratio of 0.65.Thermo Fisher Scientific (NYSE:TMO – Get Rating) last released its quarterly earnings data on Wednesday, October 26th. The medical research company reported $5.08 earnings per share for the quarter, topping analysts' consensus estimates of $4.78 by $0.30. Thermo Fisher Scientific had a net margin of 15.92% and a return on equity of 22.97%. The company had revenue of $10.68 billion during the quarter, compared to analyst estimates of $9.86 billion. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.04 earnings per share for the current year.
Thermo Fisher Scientific declared that its board has initiated a stock buyback plan on Thursday, November 10th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its stock is undervalued.
Thermo Fisher Scientific Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, January 16th. Shareholders of record on Thursday, December 15th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 0.21%. The ex-dividend date was Wednesday, December 14th. Thermo Fisher Scientific's payout ratio is 6.75%.
Analyst Upgrades and Downgrades
TMO has been the subject of a number of recent analyst reports. Royal Bank of Canada initiated coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, December 6th. They set an "outperform" rating and a $661.00 price target for the company. Credit Suisse Group dropped their price objective on Thermo Fisher Scientific to $620.00 in a report on Thursday, October 27th. Barclays increased their target price on Thermo Fisher Scientific from $570.00 to $630.00 and gave the stock an "overweight" rating in a research note on Tuesday. Wells Fargo & Company lowered their target price on shares of Thermo Fisher Scientific from $525.00 to $505.00 and set an "underweight" rating for the company in a research note on Tuesday, January 3rd. Finally, StockNews.com initiated coverage on shares of Thermo Fisher Scientific in a report on Wednesday, October 12th. They set a "buy" rating for the company. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $633.30.
Thermo Fisher Scientific Company Profile
(Get Rating)
Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software, and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.
Featured Articles
- Get a free copy of the StockNews.com research report on Thermo Fisher Scientific (TMO)
- Pliant Therapeutics Gaps 34% Higher: More Upside To Come?
- How Will Early 2023 Layoffs Affect These 5 Biotech Stocks?
- Is the Pain Over for Baudax Bio Investors after a 70% Spike?
- Will Rocket Lab's First U.S. Launch Send Stock Into Stratosphere?
- When Will Crane Holdings Take Flight?
Want to see what other hedge funds are holding TMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Thermo Fisher Scientific Inc. (NYSE:TMO – Get Rating).
Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.