Thermo Fisher Scientific Inc. $TMO Shares Purchased by Trek Financial LLC

Trek Financial LLC boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 40.8% in the third quarter, HoldingsChannel.com reports. The fund owned 3,091 shares of the medical research company’s stock after purchasing an additional 896 shares during the period. Trek Financial LLC’s holdings in Thermo Fisher Scientific were worth $1,499,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Highline Wealth Partners LLC raised its position in shares of Thermo Fisher Scientific by 126.9% during the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after purchasing an additional 33 shares during the last quarter. Capital A Wealth Management LLC increased its stake in Thermo Fisher Scientific by 825.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after buying an additional 66 shares in the last quarter. DiNuzzo Private Wealth Inc. raised its holdings in shares of Thermo Fisher Scientific by 406.7% during the second quarter. DiNuzzo Private Wealth Inc. now owns 76 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 61 shares during the last quarter. HighMark Wealth Management LLC lifted its position in shares of Thermo Fisher Scientific by 140.6% in the second quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock valued at $31,000 after acquiring an additional 45 shares in the last quarter. Finally, Elevation Wealth Partners LLC increased its position in shares of Thermo Fisher Scientific by 35.1% during the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after purchasing an additional 20 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Analysts Set New Price Targets

TMO has been the subject of several research reports. KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective for the company in a research note on Sunday, December 7th. Evercore ISI reissued an “outperform” rating and set a $650.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Leerink Partners increased their target price on shares of Thermo Fisher Scientific from $545.00 to $580.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Citigroup raised shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and boosted their price target for the company from $580.00 to $660.00 in a research note on Thursday, December 11th. Finally, Redburn Partners set a $580.00 price objective on shares of Thermo Fisher Scientific in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus price target of $625.47.

Thermo Fisher Scientific Stock Down 2.2%

Shares of NYSE:TMO opened at $625.42 on Friday. The firm’s 50-day moving average is $590.88 and its two-hundred day moving average is $531.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. Thermo Fisher Scientific Inc. has a 1 year low of $385.46 and a 1 year high of $643.99. The firm has a market capitalization of $234.98 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 4.12 and a beta of 0.91.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 22nd. The medical research company reported $5.79 earnings per share for the quarter, topping the consensus estimate of $5.50 by $0.29. The firm had revenue of $11.12 billion for the quarter, compared to the consensus estimate of $10.90 billion. Thermo Fisher Scientific had a net margin of 15.02% and a return on equity of 16.97%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $5.28 EPS. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were paid a $0.43 dividend. This represents a $1.72 annualized dividend and a dividend yield of 0.3%. The ex-dividend date was Monday, December 15th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.94%.

Thermo Fisher Scientific declared that its Board of Directors has approved a share repurchase program on Thursday, November 6th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the medical research company to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In related news, EVP Frederick M. Lowery sold 6,913 shares of the company’s stock in a transaction that occurred on Monday, December 1st. The shares were sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the sale, the executive vice president directly owned 14,367 shares in the company, valued at approximately $8,586,868.56. This represents a 32.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Michel Lagarde sold 32,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Wednesday, December 3rd. The stock was sold at an average price of $583.39, for a total transaction of $18,668,480.00. Following the completion of the transaction, the chief operating officer owned 65,480 shares of the company’s stock, valued at $38,200,377.20. This represents a 32.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 131,767 shares of company stock worth $76,467,793 over the last three months. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.