Empirical Finance LLC Raises Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Empirical Finance LLC grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,430 shares of the medical research company’s stock after purchasing an additional 271 shares during the quarter. Empirical Finance LLC’s holdings in Thermo Fisher Scientific were worth $8,307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Headlands Technologies LLC acquired a new position in Thermo Fisher Scientific during the 1st quarter worth approximately $32,000. M&G Plc purchased a new position in shares of Thermo Fisher Scientific in the 1st quarter valued at about $90,951,000. Nicolet Advisory Services LLC boosted its stake in shares of Thermo Fisher Scientific by 4.1% during the 1st quarter. Nicolet Advisory Services LLC now owns 2,230 shares of the medical research company’s stock worth $1,314,000 after purchasing an additional 88 shares during the last quarter. Cooper Haims Advisors LLC acquired a new stake in shares of Thermo Fisher Scientific in the first quarter worth approximately $202,000. Finally, Spirepoint Private Client LLC acquired a new stake in shares of Thermo Fisher Scientific in the first quarter worth approximately $5,409,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $532.50 on Friday. Thermo Fisher Scientific Inc. has a 12-month low of $464.17 and a 12-month high of $627.88. The business has a 50-day simple moving average of $589.87 and a two-hundred day simple moving average of $583.04. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The stock has a market cap of $203.68 billion, a PE ratio of 33.42, a PEG ratio of 3.58 and a beta of 0.79.

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 for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter in the prior year, the firm posted $5.69 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.29%. Thermo Fisher Scientific’s payout ratio is currently 9.78%.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s 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 sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the sale, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at $7,134,197.76. This represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,150 shares of company stock worth $20,651,865. Corporate insiders own 0.34% of the company’s stock.

Analyst Ratings Changes

TMO has been the topic of several research reports. Stifel Nicolaus cut their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. TD Cowen lifted their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Robert W. Baird dropped their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Royal Bank of Canada dropped their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.