Public Sector Pension Investment Board Buys 71,140 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Public Sector Pension Investment Board lifted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 42.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 239,811 shares of the medical research company’s stock after acquiring an additional 71,140 shares during the period. Thermo Fisher Scientific accounts for about 0.8% of Public Sector Pension Investment Board’s investment portfolio, making the stock its 22nd largest position. Public Sector Pension Investment Board’s holdings in Thermo Fisher Scientific were worth $148,340,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BDF Gestion acquired a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $6,368,000. Nisa Investment Advisors LLC boosted its stake in Thermo Fisher Scientific by 6.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock valued at $87,093,000 after purchasing an additional 8,180 shares during the period. Summit Trail Advisors LLC increased its position in Thermo Fisher Scientific by 29.2% in the 3rd quarter. Summit Trail Advisors LLC now owns 5,378 shares of the medical research company’s stock worth $3,329,000 after buying an additional 1,214 shares during the period. Simplify Asset Management Inc. lifted its holdings in shares of Thermo Fisher Scientific by 67.4% during the third 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 last quarter. Finally, Simmons Bank grew its stake in shares of Thermo Fisher Scientific by 60.2% in the third quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock worth $5,087,000 after acquiring an additional 3,090 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the transaction, the chief executive officer now owns 121,192 shares in the company, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 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 value of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,150 shares of company stock worth $20,651,865. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.7 %

Shares of TMO opened at $521.67 on Thursday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The company has a market cap of $199.54 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 3.40 and a beta of 0.79. The stock has a fifty day moving average price of $569.98 and a two-hundred day moving average price of $578.78. Thermo Fisher Scientific Inc. has a 52-week low of $480.57 and a 52-week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued 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 business 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 prior year, the company earned $5.69 EPS. Analysts predict that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has authorized 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 often an indication that the company’s leadership 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. Shareholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is 9.78%.

Analysts Set New Price Targets

A number of brokerages have weighed in on TMO. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 price target for the company. Robert W. Baird decreased their target price on 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. Bank of America upped their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Royal Bank of Canada lowered their price objective on 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. Finally, Sanford C. Bernstein reduced their target price on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research report 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.