Rafferty Asset Management LLC Purchases 2,030 Shares of Thermo Fisher Scientific Inc. $TMO

Rafferty Asset Management LLC boosted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,926 shares of the medical research company’s stock after buying an additional 2,030 shares during the quarter. Rafferty Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $20,335,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Highline Wealth Partners LLC grew its stake in shares of Thermo Fisher Scientific by 126.9% in the third 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 lifted its holdings 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 during the period. Cloud Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $31,000. Howard Hughes Medical Institute bought a new position in shares of Thermo Fisher Scientific during the second quarter worth about $33,000. Finally, Elevation Wealth Partners LLC lifted its stake in shares of Thermo Fisher Scientific by 35.1% in the third quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock worth $37,000 after acquiring an additional 20 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Frederick M. Lowery sold 6,913 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $597.68, for a total transaction of $4,131,761.84. Following the transaction, the executive vice president owned 14,367 shares of the company’s stock, valued at $8,586,868.56. The trade was a 32.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Michel Lagarde sold 32,000 shares of the stock in a transaction on Wednesday, December 3rd. The shares were sold at an average price of $583.39, for a total value of $18,668,480.00. Following the completion of the sale, the chief operating officer directly owned 65,480 shares of the company’s stock, valued at $38,200,377.20. The trade was a 32.83% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 98,271 shares of company stock valued at $56,920,935. 0.33% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on TMO shares. Morgan Stanley raised their price target on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Wells Fargo & Company set a $683.00 price target on Thermo Fisher Scientific in a report on Friday, January 30th. Evercore reissued an “outperform” rating and issued a $650.00 price objective on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. Finally, Citigroup raised their target price on Thermo Fisher Scientific from $660.00 to $685.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $633.68.

Thermo Fisher Scientific Trading Up 0.1%

Shares of Thermo Fisher Scientific stock opened at $520.80 on Friday. The stock has a market capitalization of $195.67 billion, a PE ratio of 29.36, a price-to-earnings-growth ratio of 3.01 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 stock has a 50 day moving average price of $574.24 and a two-hundred day moving average price of $547.94. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.53 and a current ratio of 1.89.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.45 by $0.12. The company had revenue of $12.22 billion for the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.Thermo Fisher Scientific’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period last year, the business earned $6.10 EPS. As a group, equities analysts anticipate 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 share repurchase plan on Thursday, November 6th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the medical research company to purchase up to 2.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Increases Dividend

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

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.