Balboa Wealth Partners Grows Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Balboa Wealth Partners lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 59.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 883 shares of the medical research company’s stock after buying an additional 330 shares during the quarter. Balboa Wealth Partners’ holdings in Thermo Fisher Scientific were worth $546,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TMO. International Assets Investment Management LLC lifted its holdings in Thermo Fisher Scientific by 76,051.4% in the 3rd quarter. International Assets Investment Management LLC now owns 1,416,416 shares of the medical research company’s stock valued at $876,152,000 after purchasing an additional 1,414,556 shares in the last quarter. Capital World Investors raised its holdings in Thermo Fisher Scientific by 10.0% in the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock valued at $7,842,762,000 after acquiring an additional 1,231,059 shares during the last quarter. Swedbank AB purchased a new position in Thermo Fisher Scientific during the first quarter worth approximately $705,636,000. Ameriprise Financial Inc. grew its holdings in Thermo Fisher Scientific by 32.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after buying an additional 604,895 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its holdings in shares of Thermo Fisher Scientific by 743.6% during the 2nd quarter. Point72 Asset Management L.P. now owns 336,537 shares of the medical research company’s stock worth $186,105,000 after acquiring an additional 296,646 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 1.6 %

Shares of Thermo Fisher Scientific stock opened at $533.02 on Friday. The company has a market cap of $203.88 billion, a P/E ratio of 33.42, a PEG ratio of 3.58 and a beta of 0.79. Thermo Fisher Scientific Inc. has a one year low of $463.99 and a one year high of $627.88. The firm has a fifty day moving average of $589.87 and a two-hundred day moving average of $583.04. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $10.63 billion. During the same quarter last year, the company earned $5.69 earnings per share. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. On average, analysts forecast that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced 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. 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 dividend payout ratio (DPR) is currently 9.78%.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This trade represents a 7.62 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, 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 value of $168,048.00. Following the sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. The trade was a 1.77 % 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 over the last quarter. Corporate insiders own 0.34% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on TMO. JPMorgan Chase & Co. upped their price objective 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. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective for the company. Raymond James raised their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Wells Fargo & Company reduced their price target on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, TD Cowen lifted their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Company 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.