Caprock Group LLC Boosts Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Caprock Group LLC boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,914 shares of the medical research company’s stock after buying an additional 219 shares during the period. Caprock Group LLC’s holdings in Thermo Fisher Scientific were worth $6,137,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in TMO. BDF Gestion bought a new position in Thermo Fisher Scientific in the 2nd quarter worth about $6,368,000. Nisa Investment Advisors LLC boosted its position in shares of Thermo Fisher Scientific by 6.2% in the third quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock valued at $87,093,000 after acquiring an additional 8,180 shares during the period. Simplify Asset Management Inc. increased its holdings in Thermo Fisher Scientific by 67.4% during the 3rd quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company’s stock worth $8,518,000 after acquiring an additional 5,546 shares during the period. Seven Eight Capital LP purchased a new stake in Thermo Fisher Scientific in the 1st quarter worth approximately $1,161,000. Finally, Simmons Bank grew its position in shares of Thermo Fisher Scientific by 60.2% during the 3rd quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock valued at $5,087,000 after purchasing an additional 3,090 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on TMO. Bank of America lifted their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research report on Monday, September 16th. UBS Group raised shares of Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Bernstein Bank upped 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 report on Tuesday, October 22nd. Wells Fargo & Company lowered 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, Evercore ISI reduced their price objective on 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. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Stock Down 2.3 %

NYSE:TMO opened at $501.50 on Tuesday. Thermo Fisher Scientific Inc. has a 1-year low of $465.90 and a 1-year high of $627.88. The company has a market capitalization of $191.82 billion, a PE ratio of 31.44, a P/E/G ratio of 3.39 and a beta of 0.79. The firm’s 50-day moving average price is $584.05 and its 200-day moving average price is $581.90. 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 (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (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 business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter in the previous year, the business earned $5.69 earnings per share. The firm’s quarterly revenue was up .2% compared to the same quarter last year. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal 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 $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.31%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

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

Insider Activity

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction 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. This trade represents a 1.77 % decrease in their position. The sale 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 stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $1,120,320.00. Following the transaction, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,150 shares of company stock valued at $20,651,865 over the last ninety days. 0.34% of the stock is currently owned by corporate 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.