Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Acquired by Glass Wealth Management Co LLC

Glass Wealth Management Co LLC raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,562 shares of the medical research company’s stock after acquiring an additional 190 shares during the quarter. Thermo Fisher Scientific makes up 1.6% of Glass Wealth Management Co LLC’s investment portfolio, making the stock its 26th largest position. Glass Wealth Management Co LLC’s holdings in Thermo Fisher Scientific were worth $2,822,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its holdings in shares of Thermo Fisher Scientific by 3.8% in the first quarter. Acadian Asset Management LLC now owns 24,580 shares of the medical research company’s stock worth $14,282,000 after acquiring an additional 909 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Thermo Fisher Scientific in the 1st quarter valued at about $1,661,000. Hillsdale Investment Management Inc. lifted its holdings in Thermo Fisher Scientific by 23.0% in the 1st quarter. Hillsdale Investment Management Inc. now owns 321 shares of the medical research company’s stock valued at $187,000 after purchasing an additional 60 shares in the last quarter. Bahl & Gaynor Inc. grew its holdings in shares of Thermo Fisher Scientific by 1.2% during the first quarter. Bahl & Gaynor Inc. now owns 3,331 shares of the medical research company’s stock worth $1,936,000 after buying an additional 40 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position in shares of Thermo Fisher Scientific by 26.5% in the first quarter. O Shaughnessy Asset Management LLC now owns 22,592 shares of the medical research company’s stock valued at $13,131,000 after buying an additional 4,730 shares during the last quarter. 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 company’s stock in a transaction dated Friday, October 25th. The shares were 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 in the company, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated 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 owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock worth $20,651,865 in the last three months. 0.34% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Bernstein Bank lifted their target price on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada dropped their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Morgan Stanley increased their price objective on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Stifel Nicolaus lowered their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $513.08 on Monday. The firm has a market capitalization of $196.25 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. The stock’s 50 day moving average price is $586.43 and its 200 day moving average price is $582.39. Thermo Fisher Scientific Inc. has a one year low of $464.17 and a one year 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.

Thermo Fisher Scientific (NYSE:TMO) last announced its 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. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The business’s quarterly revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.69 earnings per share. As a group, sell-side analysts expect that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its board has initiated a stock buyback plan on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

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.