Thermo Fisher Scientific Inc. $TMO Shares Bought by Jennison Associates LLC

Jennison Associates LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 51.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 251,467 shares of the medical research company’s stock after acquiring an additional 85,475 shares during the period. Jennison Associates LLC owned 0.07% of Thermo Fisher Scientific worth $121,967,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TMO. Highline Wealth Partners LLC grew its holdings in shares of Thermo Fisher Scientific by 126.9% during the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock worth $29,000 after buying an additional 33 shares in the last quarter. Capital A Wealth Management LLC grew its stake in Thermo Fisher Scientific by 825.0% in the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock worth $30,000 after acquiring an additional 66 shares during the period. DiNuzzo Private Wealth Inc. raised its holdings in Thermo Fisher Scientific by 406.7% in the 2nd 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 stake in shares of Thermo Fisher Scientific by 140.6% during the 2nd quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock worth $31,000 after purchasing an additional 45 shares during the period. Finally, Elevation Wealth Partners LLC grew its position 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 valued at $37,000 after purchasing an additional 20 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Trading Down 2.2%

NYSE:TMO opened at $625.42 on Friday. Thermo Fisher Scientific Inc. has a 12 month low of $385.46 and a 12 month high of $643.99. The business’s 50-day moving average is $590.88 and its two-hundred day moving average is $530.87. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. The firm has a market capitalization of $234.98 billion, a PE ratio of 36.13, a price-to-earnings-growth ratio of 4.21 and a beta of 0.91.

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

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Monday, December 15th were given a dividend of $0.43 per share. This represents a $1.72 dividend on an annualized basis and a dividend yield of 0.3%. The ex-dividend date of this dividend was Monday, December 15th. Thermo Fisher Scientific’s payout ratio is presently 9.94%.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on TMO. Hsbc Global Res upgraded shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a report on Monday, December 1st. Citigroup raised shares of Thermo Fisher Scientific from a “neutral” rating to a “buy” rating and increased their price target for the stock from $580.00 to $660.00 in a research note on Thursday, December 11th. Weiss Ratings reissued a “hold (c)” rating on shares of Thermo Fisher Scientific in a research note on Friday, January 9th. Redburn Partners set a $580.00 target price on Thermo Fisher Scientific in a research report on Wednesday, October 8th. Finally, Wells Fargo & Company boosted their price target on Thermo Fisher Scientific from $635.00 to $675.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $625.47.

Insiders Place Their Bets

In other news, EVP Michael D. Shafer sold 10,725 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $600.00, for a total transaction of $6,435,000.00. Following the completion of the sale, the executive vice president owned 18,731 shares of the company’s stock, valued at approximately $11,238,600. This trade represents a 36.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 7,250 shares of the company’s stock in a transaction on Monday, October 27th. The shares were sold at an average price of $566.10, for a total transaction of $4,104,225.00. Following the completion of the sale, the chief executive officer directly owned 113,762 shares in the company, valued at $64,400,668.20. This represents a 5.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 131,767 shares of company stock valued at $76,467,793. Insiders own 0.33% of the company’s stock.

Thermo Fisher Scientific 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.