Thermo Fisher Scientific Inc. $TMO Shares Purchased by Fairtree Asset Management Pty Ltd

Fairtree Asset Management Pty Ltd grew its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 43.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 7,944 shares of the medical research company’s stock after acquiring an additional 2,409 shares during the quarter. Thermo Fisher Scientific makes up approximately 2.5% of Fairtree Asset Management Pty Ltd’s holdings, making the stock its 9th biggest holding. Fairtree Asset Management Pty Ltd’s holdings in Thermo Fisher Scientific were worth $3,853,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of TMO. Highline Wealth Partners LLC boosted its stake in shares of Thermo Fisher Scientific by 126.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 33 shares in the last quarter. Capital A Wealth Management LLC increased its holdings in shares of Thermo Fisher Scientific by 825.0% during the second 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. Cloud Capital Management LLC bought a new stake in Thermo Fisher Scientific during the 3rd quarter worth approximately $31,000. Howard Hughes Medical Institute acquired a new position in Thermo Fisher Scientific in the second quarter worth $33,000. Finally, Elevation Wealth Partners LLC increased 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 valued at $37,000 after buying an additional 20 shares in the last quarter. 89.23% of the stock is currently owned by institutional investors.

Thermo Fisher Scientific Stock Up 0.1%

Shares of NYSE:TMO opened at $520.80 on Monday. The company has a 50 day moving average price of $574.24 and a two-hundred day moving average price of $548.38. The company has a market capitalization of $193.47 billion, a PE ratio of 29.36, a PEG ratio of 3.01 and a beta of 0.96. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. 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 released its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating analysts’ consensus estimates of $6.45 by $0.12. The business had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The firm’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $6.10 EPS. Analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

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

Thermo Fisher Scientific declared that its board has authorized a stock 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 repurchase up to 2.4% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms have weighed in on TMO. Morgan Stanley raised their price objective on shares of Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Evercore reiterated an “outperform” rating and issued a $650.00 price objective on shares of Thermo Fisher Scientific in a research report on Monday, January 5th. Stifel Nicolaus raised their price target on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a report on Friday, January 9th. KeyCorp upgraded shares of Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price on the stock in a research report on Sunday, December 7th. Finally, Barclays increased their price objective on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a report 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 assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $633.68.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Frederick M. Lowery sold 6,912 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The stock was 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 directly owned 14,367 shares of the company’s stock, valued at approximately $8,360,731.98. This represents a 32.48% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 400 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $541.20, for a total transaction of $216,480.00. Following the completion of the transaction, the executive vice president directly owned 20,752 shares in the company, valued at approximately $11,230,982.40. The trade was a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 91,358 shares of company stock worth $52,789,173. 0.33% of the stock is owned by company insiders.

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.