Commerce Bank Has $142.02 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Commerce Bank boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 229,601 shares of the medical research company’s stock after buying an additional 1,534 shares during the quarter. Thermo Fisher Scientific makes up about 0.9% of Commerce Bank’s holdings, making the stock its 23rd biggest position. Commerce Bank owned about 0.06% of Thermo Fisher Scientific worth $142,024,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of TMO. Ossiam lifted its holdings in Thermo Fisher Scientific by 13.1% during the 1st quarter. Ossiam now owns 10,422 shares of the medical research company’s stock valued at $6,057,000 after purchasing an additional 1,205 shares during the last quarter. LGT Group Foundation raised its position in Thermo Fisher Scientific by 8.9% in the 1st quarter. LGT Group Foundation now owns 3,179 shares of the medical research company’s stock valued at $1,848,000 after purchasing an additional 260 shares during the last quarter. Delap Wealth Advisory LLC bought a new position in Thermo Fisher Scientific in the 1st quarter valued at $348,000. CreativeOne Wealth LLC grew its position in shares of Thermo Fisher Scientific by 20.9% during the 1st quarter. CreativeOne Wealth LLC now owns 5,478 shares of the medical research company’s stock worth $3,184,000 after buying an additional 947 shares during the period. Finally, Wellington Wealth Strategies LLC. acquired a new position in Thermo Fisher Scientific in the first quarter valued at approximately $1,545,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the company’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 $168,048.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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 transaction of $1,120,320.00. Following the transaction, the senior vice president now owns 12,736 shares of the company’s stock, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 37,150 shares of company stock valued at $20,651,865 over the last three months. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.6 %

Shares of NYSE TMO opened at $509.15 on Wednesday. The firm’s 50 day moving average price is $581.75 and its 200-day moving average price is $581.46. The company has a market cap of $194.75 billion, a PE ratio of 31.92, a P/E/G ratio of 3.39 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 52-week low of $465.90 and a 52-week 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 data 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. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the previous year, the company earned $5.69 earnings per share. The firm’s quarterly revenue was up .2% on a year-over-year basis. On average, equities research 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 approved a stock repurchase plan on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.31%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on TMO shares. JPMorgan Chase & Co. lifted their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Barclays dropped 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. Evercore ISI dropped their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, 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 note on Monday, September 16th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and an average target price 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.