Portside Wealth Group LLC Has $7.11 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Portside Wealth Group LLC increased its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 11,495 shares of the medical research company’s stock after acquiring an additional 303 shares during the period. Thermo Fisher Scientific comprises 1.2% of Portside Wealth Group LLC’s investment portfolio, making the stock its 16th biggest position. Portside Wealth Group LLC’s holdings in Thermo Fisher Scientific were worth $7,110,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in TMO. BDF Gestion acquired a new position in Thermo Fisher Scientific during the second quarter valued at approximately $6,368,000. Nisa Investment Advisors LLC grew its holdings in Thermo Fisher Scientific by 6.2% during the third quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock valued at $87,093,000 after purchasing an additional 8,180 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in Thermo Fisher Scientific by 1.9% during the first quarter. Lord Abbett & CO. LLC now owns 78,247 shares of the medical research company’s stock valued at $45,478,000 after purchasing an additional 1,480 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of Thermo Fisher Scientific in the first quarter valued at approximately $1,161,000. Finally, ORG Partners LLC boosted its position in shares of Thermo Fisher Scientific by 216.6% in the second quarter. ORG Partners LLC now owns 1,640 shares of the medical research company’s stock valued at $890,000 after acquiring an additional 1,122 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction 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 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at approximately $67,175,513.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,150 shares of company stock valued at $10,094,925. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO opened at $555.89 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $437.26 and a twelve month high of $627.88. The firm has a market cap of $212.63 billion, a PE ratio of 34.85, a price-to-earnings-growth ratio of 3.70 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The business has a fifty day moving average of $596.33 and a 200-day moving average of $583.80.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business posted $5.69 EPS. On average, equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Analyst Upgrades and Downgrades

TMO has been the subject of several research reports. Evercore ISI reduced their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Stephens initiated coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective for the company. Bernstein Bank increased their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Bank of America increased their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, September 16th. Finally, Royal Bank of Canada reduced their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $649.33.

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.