K.J. Harrison & Partners Inc Increases Stake in Thermo Fisher Scientific Inc. $TMO

K.J. Harrison & Partners Inc increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 63.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,878 shares of the medical research company’s stock after acquiring an additional 1,500 shares during the quarter. K.J. Harrison & Partners Inc’s holdings in Thermo Fisher Scientific were worth $2,036,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. Westfield Capital Management Co. LP boosted its stake in shares of Thermo Fisher Scientific by 0.4% during the third quarter. Westfield Capital Management Co. LP now owns 13,681 shares of the medical research company’s stock valued at $6,636,000 after purchasing an additional 55 shares in the last quarter. Catalyst Financial Partners LLC boosted its position in Thermo Fisher Scientific by 5.8% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,842 shares of the medical research company’s stock valued at $893,000 after acquiring an additional 101 shares in the last quarter. MAI Capital Management increased its holdings in shares of Thermo Fisher Scientific by 18.2% in the 3rd quarter. MAI Capital Management now owns 51,025 shares of the medical research company’s stock valued at $24,748,000 after acquiring an additional 7,868 shares during the period. Cary Street Partners Financial LLC lifted its stake in shares of Thermo Fisher Scientific by 3.0% during the 3rd quarter. Cary Street Partners Financial LLC now owns 31,393 shares of the medical research company’s stock worth $15,226,000 after purchasing an additional 923 shares during the last quarter. Finally, Bradley Foster & Sargent Inc. CT grew its stake in Thermo Fisher Scientific by 0.6% in the third quarter. Bradley Foster & Sargent Inc. CT now owns 243,969 shares of the medical research company’s stock valued at $118,330,000 after purchasing an additional 1,449 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on TMO shares. TD Cowen cut their price objective on shares of Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Wells Fargo & Company set a $683.00 price target on Thermo Fisher Scientific in a research report on Friday, January 30th. Stifel Nicolaus upped their target price on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research report on Friday, January 9th. Weiss Ratings restated a “hold (c)” rating on shares of Thermo Fisher Scientific in a research report on Friday, January 9th. Finally, Wall Street Zen cut Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $633.68.

Insider Activity

In other news, EVP Frederick M. Lowery sold 6,912 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $581.94, for a total transaction of $4,022,369.28. Following the completion of the sale, the executive vice president owned 14,367 shares in the company, valued at $8,360,731.98. This trade represents a 32.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 400 shares of the company’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the completion of the transaction, the executive vice president owned 20,752 shares in the company, valued at $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 98,271 shares of company stock valued at $56,920,935 in the last 90 days. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $514.20 on Thursday. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. The firm has a 50-day simple moving average of $576.02 and a 200-day simple moving average of $547.25. The stock has a market capitalization of $193.19 billion, a price-to-earnings ratio of 28.99, a price-to-earnings-growth ratio of 2.97 and a beta of 0.93. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The firm had revenue of $12.22 billion for the quarter, compared to the consensus estimate of $11.95 billion. During the same quarter last year, the business posted $6.10 earnings per share. The firm’s revenue was up 7.2% compared to the same quarter last year. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Friday, March 13th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 0.4%. The ex-dividend date is Friday, March 13th. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.70%.

Thermo Fisher Scientific announced that its board has initiated a share repurchase plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

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.