Westpac Banking Corp Increases Stock Position in Thermo Fisher Scientific Inc. $TMO

Westpac Banking Corp raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 179.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,687 shares of the medical research company’s stock after acquiring an additional 5,573 shares during the quarter. Westpac Banking Corp’s holdings in Thermo Fisher Scientific were worth $4,213,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of TMO. Financial Management Network Inc. grew its position in shares of Thermo Fisher Scientific by 3.7% in the 3rd quarter. Financial Management Network Inc. now owns 511 shares of the medical research company’s stock worth $248,000 after buying an additional 18 shares during the last quarter. Bruce G. Allen Investments LLC increased its position in Thermo Fisher Scientific by 8.8% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 236 shares of the medical research company’s stock valued at $114,000 after purchasing an additional 19 shares during the period. White Pine Capital LLC lifted its position in shares of Thermo Fisher Scientific by 3.2% in the 3rd quarter. White Pine Capital LLC now owns 611 shares of the medical research company’s stock worth $296,000 after purchasing an additional 19 shares during the period. 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 valued at $37,000 after buying an additional 20 shares during the period. Finally, Hopwood Financial Services Inc. lifted its holdings in Thermo Fisher Scientific by 9.1% in the third quarter. Hopwood Financial Services Inc. now owns 239 shares of the medical research company’s stock worth $116,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In other Thermo Fisher Scientific news, COO Michel Lagarde sold 22,046 shares of the stock in a transaction dated Thursday, December 4th. The stock was sold at an average price of $563.56, for a total value of $12,424,243.76. Following the transaction, the chief operating officer owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. This represents a 20.77% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 400 shares of the business’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. This represents a 1.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 98,271 shares of company stock valued at $56,920,935. Company insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific Trading Down 0.3%

NYSE:TMO opened at $514.20 on Thursday. The stock has a market cap of $193.19 billion, a price-to-earnings ratio of 28.99, a PEG 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. 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 company’s 50 day moving average price is $576.02 and its 200-day moving average price is $547.25.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results 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 business had revenue of $12.22 billion during the quarter, compared to analyst estimates of $11.95 billion. During the same quarter last year, the company earned $6.10 EPS. The company’s quarterly revenue was up 7.2% compared to the same quarter last year. On average, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current fiscal year.

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

Thermo Fisher Scientific Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Friday, March 13th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 0.4%. This is a positive change from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. The ex-dividend date is Friday, March 13th. Thermo Fisher Scientific’s payout ratio is currently 9.70%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TMO shares. Argus increased their target price on Thermo Fisher Scientific from $580.00 to $610.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. TD Cowen lowered their price objective on Thermo Fisher Scientific from $696.00 to $683.00 and set a “buy” rating for the company in a research report on Friday, January 30th. Wall Street Zen downgraded shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. KeyCorp raised shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 price objective on the stock in a research note on Sunday, December 7th. Finally, Evercore reiterated an “outperform” rating and set a $650.00 target price on shares of Thermo Fisher Scientific in a report on Monday, January 5th. One research 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’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $633.68.

About Thermo Fisher Scientific

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.