Concentric Capital Strategies LP Has $8.21 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Concentric Capital Strategies LP increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 946.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,278 shares of the medical research company’s stock after purchasing an additional 12,009 shares during the quarter. Concentric Capital Strategies LP’s holdings in Thermo Fisher Scientific were worth $8,213,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Benjamin Edwards Inc. raised its holdings in shares of Thermo Fisher Scientific by 538.6% during the third quarter. Benjamin Edwards Inc. now owns 14,088 shares of the medical research company’s stock worth $8,716,000 after acquiring an additional 11,882 shares in the last quarter. Atom Investors LP grew its stake in shares of Thermo Fisher Scientific by 353.2% in the 3rd quarter. Atom Investors LP now owns 6,086 shares of the medical research company’s stock valued at $3,765,000 after buying an additional 4,743 shares in the last quarter. Bamco Inc. NY raised its position in Thermo Fisher Scientific by 1.2% during the third quarter. Bamco Inc. NY now owns 41,635 shares of the medical research company’s stock valued at $25,754,000 after acquiring an additional 498 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Thermo Fisher Scientific in the third quarter worth approximately $544,000. Finally, Alerus Financial NA increased its stake in shares of Thermo Fisher Scientific by 12.4% during the 3rd quarter. Alerus Financial NA now owns 9,547 shares of the medical research company’s stock worth $5,906,000 after purchasing an additional 1,055 shares during the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 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 $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 approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the chief executive officer now directly owns 14,608 shares in the company, valued at $8,076,178.88. This trade represents a 38.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock valued at $20,651,865 in the last three months. 0.34% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Price Performance

Shares of Thermo Fisher Scientific stock opened at $529.63 on Monday. Thermo Fisher Scientific Inc. has a twelve month low of $487.06 and a twelve month high of $627.88. 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 firm has a market cap of $202.58 billion, a P/E ratio of 33.21, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. The firm’s 50-day simple moving average is $566.33 and its 200-day simple moving average is $577.69.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results 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. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter last year, the company earned $5.69 EPS. Thermo Fisher Scientific’s revenue was up .2% on a year-over-year basis. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase plan on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to buy up to 2% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders 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 dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.78%.

Analyst Upgrades and Downgrades

Several research firms have commented on TMO. Evercore ISI lowered their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Wells Fargo & Company cut their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Morgan Stanley increased their price target on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Four equities research 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. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific 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.