CreativeOne Wealth LLC Raises Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

CreativeOne Wealth LLC grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,027 shares of the medical research company’s stock after acquiring an additional 693 shares during the period. CreativeOne Wealth LLC’s holdings in Thermo Fisher Scientific were worth $3,728,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. LRI Investments LLC acquired a new stake in shares of Thermo Fisher Scientific during the first quarter worth $127,000. Sanibel Captiva Trust Company Inc. grew its position in Thermo Fisher Scientific by 16.7% in the 1st quarter. Sanibel Captiva Trust Company Inc. now owns 1,828 shares of the medical research company’s stock valued at $1,062,000 after buying an additional 262 shares in the last quarter. Community Trust & Investment Co. boosted its position in shares of Thermo Fisher Scientific by 0.3% during the 1st quarter. Community Trust & Investment Co. now owns 33,455 shares of the medical research company’s stock valued at $19,444,000 after purchasing an additional 104 shares in the last quarter. PGGM Investments boosted its position in shares of Thermo Fisher Scientific by 0.8% during the 1st quarter. PGGM Investments now owns 198,517 shares of the medical research company’s stock valued at $115,380,000 after purchasing an additional 1,585 shares in the last quarter. Finally, Cetera Investment Advisers boosted its position in shares of Thermo Fisher Scientific by 245.9% during the 1st quarter. Cetera Investment Advisers now owns 56,914 shares of the medical research company’s stock valued at $33,079,000 after purchasing an additional 40,460 shares in the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TMO. Stifel Nicolaus reduced their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased 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 report on Friday, September 20th. Sanford C. Bernstein reduced their price target 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. Bank of America increased their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research report on Monday, September 16th. Finally, Bernstein Bank raised their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $521.67 on Thursday. The stock has a market cap of $199.54 billion, a P/E ratio of 32.71, a price-to-earnings-growth ratio of 3.40 and a beta of 0.79. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The stock’s 50-day moving average is $569.98 and its 200-day moving average is $578.78. 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 quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm’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 earnings per share. Equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. 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 (DPR) is presently 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase program on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to buy up to 2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the company’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael A. Boxer sold 2,000 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 value of $1,120,320.00. Following the completion of 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. Over the last three months, insiders have sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is currently owned by company 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.