Truepoint Inc. Takes Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Truepoint Inc. bought a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 336 shares of the medical research company’s stock, valued at approximately $208,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BDF Gestion purchased a new stake in shares of Thermo Fisher Scientific in the second quarter valued at $6,368,000. Nisa Investment Advisors LLC increased its stake in Thermo Fisher Scientific by 6.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock worth $87,093,000 after buying an additional 8,180 shares during the period. Simplify Asset Management Inc. increased its stake in Thermo Fisher Scientific by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company’s stock worth $8,518,000 after buying an additional 5,546 shares during the period. Simmons Bank increased its stake in Thermo Fisher Scientific by 60.2% in the 3rd quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock worth $5,087,000 after buying an additional 3,090 shares during the period. Finally, ORG Partners LLC increased its stake in Thermo Fisher Scientific by 216.6% in the 2nd quarter. ORG Partners LLC now owns 1,640 shares of the medical research company’s stock worth $890,000 after buying an additional 1,122 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific 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 sale, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. The trade was a 1.77 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction on Friday, November 8th. The stock was sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the sale, the chief executive officer now directly owns 14,608 shares in the company, valued at approximately $8,076,178.88. This trade represents a 38.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is owned by corporate insiders.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $513.26 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The firm has a market cap of $196.32 billion, a price-to-earnings ratio of 32.18, a price-to-earnings-growth ratio of 3.41 and a beta of 0.79. The company has a 50 day moving average price of $575.70 and a 200-day moving average price of $580.15. Thermo Fisher Scientific Inc. has a 1-year low of $480.57 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last posted 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 firm had revenue of $10.60 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the previous year, the firm earned $5.69 EPS. Equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific declared that its board has approved a share buyback plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

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

Wall Street Analyst Weigh In

TMO has been the topic of several recent analyst reports. Royal Bank of Canada reduced their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. raised their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. TD Cowen raised their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Robert W. Baird cut their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, Wells Fargo & Company cut their target price on shares of 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. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $649.33.

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.