BNP Paribas Purchases 740 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

BNP Paribas raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 45,999 shares of the medical research company’s stock after acquiring an additional 740 shares during the quarter. Thermo Fisher Scientific makes up 1.2% of BNP Paribas’ investment portfolio, making the stock its 26th largest position. BNP Paribas’ holdings in Thermo Fisher Scientific were worth $28,362,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of TMO. Beacon Capital Management LLC increased its position in shares of Thermo Fisher Scientific by 39.4% during the first quarter. Beacon Capital Management LLC now owns 198 shares of the medical research company’s stock valued at $115,000 after buying an additional 56 shares during the period. Montchanin Asset Management LLC bought a new position in shares of Thermo Fisher Scientific in the 1st quarter worth approximately $2,517,000. Citizens Financial Group Inc. RI lifted its stake in shares of Thermo Fisher Scientific by 4.3% in the 1st quarter. Citizens Financial Group Inc. RI now owns 18,882 shares of the medical research company’s stock valued at $10,975,000 after purchasing an additional 773 shares during the period. Wahed Invest LLC boosted its position in shares of Thermo Fisher Scientific by 15.3% during the first quarter. Wahed Invest LLC now owns 7,595 shares of the medical research company’s stock valued at $4,414,000 after purchasing an additional 1,008 shares in the last quarter. Finally, LRI Investments LLC bought a new position in Thermo Fisher Scientific in the first quarter worth $127,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Price Performance

NYSE TMO opened at $512.99 on Wednesday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. Thermo Fisher Scientific Inc. has a 1-year low of $480.57 and a 1-year high of $627.88. The stock has a market capitalization of $196.22 billion, a price-to-earnings ratio of 32.16, a PEG ratio of 3.40 and a beta of 0.79. The business’s fifty day moving average price is $571.75 and its 200-day moving average price is $579.18.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (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 for the quarter, compared to analysts’ expectations of $10.63 billion. During the same period last year, the firm posted $5.69 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

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

Thermo Fisher Scientific Announces Dividend

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

Insider Transactions at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the sale, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the transaction, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at $67,175,513.68. This represents a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,150 shares of company stock worth $20,651,865 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TMO. Royal Bank of Canada reduced their target price on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Stephens began coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price objective on the stock. Bank of America lifted their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Redburn Atlantic started coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 price objective for the company. Finally, Bernstein Bank boosted their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average 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.