GM Advisory Group LLC Buys 370 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

GM Advisory Group LLC lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 19.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,319 shares of the medical research company’s stock after purchasing an additional 370 shares during the period. GM Advisory Group LLC’s holdings in Thermo Fisher Scientific were worth $1,434,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in TMO. Westwood Holdings Group Inc. grew its holdings in shares of Thermo Fisher Scientific by 54.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,233 shares of the medical research company’s stock valued at $717,000 after purchasing an additional 437 shares during the last quarter. Gamco Investors INC. ET AL boosted its position in Thermo Fisher Scientific by 2.2% during the 1st quarter. Gamco Investors INC. ET AL now owns 4,116 shares of the medical research company’s stock valued at $2,392,000 after buying an additional 90 shares during the period. Gabelli Funds LLC boosted its position in Thermo Fisher Scientific by 0.7% during the 1st quarter. Gabelli Funds LLC now owns 29,435 shares of the medical research company’s stock valued at $17,108,000 after buying an additional 200 shares during the period. LRI Investments LLC purchased a new stake in Thermo Fisher Scientific during the 1st quarter valued at $154,000. Finally, Steel Grove Capital Advisors LLC boosted its position in Thermo Fisher Scientific by 48.8% during the 1st quarter. Steel Grove Capital Advisors LLC now owns 1,214 shares of the medical research company’s stock valued at $706,000 after buying an additional 398 shares during the period. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.5 %

NYSE:TMO opened at $515.26 on Friday. The firm has a market cap of $197.09 billion, a P/E ratio of 32.30, a P/E/G ratio of 3.37 and a beta of 0.79. 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 Inc. has a fifty-two week low of $480.57 and a fifty-two week high of $627.88. The firm has a 50-day simple moving average of $577.66 and a two-hundred day simple moving average of $580.52.

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 analysts’ consensus estimates 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 business had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the business earned $5.69 EPS. Thermo Fisher Scientific’s revenue was up .2% compared to the same quarter last year. Analysts predict that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has approved a share buyback 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 shares through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently declared 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 0.30%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The shares were 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 owns 14,608 shares of the company’s stock, valued at $8,076,178.88. This trade represents a 38.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,150 shares of company stock worth $20,651,865 over the last three months. 0.34% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TMO. JPMorgan Chase & Co. increased their price target on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Wells Fargo & Company dropped their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Barclays dropped their target price on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Evercore ISI dropped their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, Sanford C. Bernstein dropped their target price on shares of 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 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.