Vestcor Inc increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO – Free Report) by 10.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,031 shares of the medical research company’s stock after buying an additional 1,012 shares during the period. Vestcor Inc’s holdings in Thermo Fisher Scientific were worth $6,823,000 at the end of the most recent reporting period.
A number of other institutional investors have also bought and sold shares of the company. Nisa Investment Advisors LLC lifted its stake in shares of 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 valued at $87,093,000 after purchasing an additional 8,180 shares during the period. Summit Trail Advisors LLC lifted its stake in Thermo Fisher Scientific by 29.2% in the third quarter. Summit Trail Advisors LLC now owns 5,378 shares of the medical research company’s stock valued at $3,329,000 after buying an additional 1,214 shares during the period. Simplify Asset Management Inc. boosted its holdings in shares of Thermo Fisher Scientific by 67.4% during 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 in the last quarter. Simmons Bank grew its position in shares of Thermo Fisher Scientific by 60.2% during 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, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Thermo Fisher Scientific by 0.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,163,487 shares of the medical research company’s stock valued at $1,338,268,000 after acquiring an additional 19,536 shares during the period. Institutional investors own 89.23% of the company’s stock.
Thermo Fisher Scientific Price Performance
Shares of NYSE TMO opened at $537.44 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $205.57 billion, a PE ratio of 33.70, a PEG ratio of 3.56 and a beta of 0.77. The stock’s 50 day moving average price is $556.46 and its 200-day moving average price is $575.08. Thermo Fisher Scientific Inc. has a twelve month low of $491.33 and a twelve month high of $627.88.
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. 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 0.29%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.
Thermo Fisher Scientific declared that its Board of Directors has approved a stock repurchase program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.
Analyst Upgrades and Downgrades
Several research firms have weighed in on TMO. Bank of America lifted their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. TD Cowen boosted their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Bernstein Bank increased their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Barclays decreased their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus reduced their price target 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. Four investment 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. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $649.33.
Check Out Our Latest Research Report on TMO
Insider Activity at Thermo Fisher Scientific
In related news, CEO Marc N. Casper sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the business’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 $1,120,320.00. Following the sale, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. The trade was a 13.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,150 shares of company stock worth $25,954,465. Insiders own 0.34% of the company’s stock.
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.
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