Fifth Third Wealth Advisors LLC Boosts Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Fifth Third Wealth Advisors LLC grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 8.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,897 shares of the medical research company’s stock after purchasing an additional 306 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Thermo Fisher Scientific were worth $2,411,000 at the end of the most recent reporting period.

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

Thermo Fisher Scientific Stock Performance

Thermo Fisher Scientific stock opened at $501.50 on Tuesday. The firm has a market capitalization of $191.82 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. The stock’s 50 day moving average price is $584.05 and its 200 day moving average price is $581.90. Thermo Fisher Scientific Inc. has a one year low of $465.90 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 released its quarterly 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. The firm had revenue of $10.60 billion for 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 firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.69 EPS. 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 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 issued a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.31%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on TMO. Wells Fargo & Company cut their price target on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. TD Cowen upped their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Bank of America raised their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Barclays reduced their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Stifel Nicolaus dropped their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Four equities research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $649.33.

Insider Activity

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael A. Boxer sold 2,000 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 transaction 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. The trade was a 13.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is currently owned by insiders.

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.