Cresset Asset Management LLC Increases Holdings in Thermo Fisher Scientific Inc. $TMO

Cresset Asset Management LLC lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,694 shares of the medical research company’s stock after buying an additional 5,103 shares during the quarter. Cresset Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $20,240,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in TMO. Highline Wealth Partners LLC raised its holdings 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 acquiring an additional 33 shares in the last quarter. Capital A Wealth Management LLC boosted its stake in shares of 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 valued at $30,000 after purchasing an additional 66 shares in the last quarter. Cloud Capital Management LLC bought a new position in shares of Thermo Fisher Scientific during the third quarter valued at about $31,000. Howard Hughes Medical Institute bought a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $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 worth $37,000 after buying an additional 20 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on TMO shares. Stifel Nicolaus boosted their target price on Thermo Fisher Scientific from $583.00 to $700.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Wells Fargo & Company set a $683.00 price objective on Thermo Fisher Scientific in a research note on Friday, January 30th. Robert W. Baird set a $653.00 price target on shares of Thermo Fisher Scientific in a report on Friday, January 30th. UBS Group reiterated a “neutral” rating and issued a $615.00 price objective on shares of Thermo Fisher Scientific in a report on Friday, January 30th. Finally, Barclays boosted their target price on shares of Thermo Fisher Scientific from $625.00 to $650.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $633.68.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $513.19 on Thursday. The business’s 50-day simple moving average is $570.10 and its two-hundred day simple moving average is $548.43. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67. Thermo Fisher Scientific Inc. has a 52 week low of $385.46 and a 52 week high of $643.99. The stock has a market cap of $190.64 billion, a PE ratio of 28.93, a P/E/G ratio of 2.93 and a beta of 0.96.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Thursday, January 29th. The medical research company reported $6.57 earnings per share (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 analyst estimates of $11.95 billion. Thermo Fisher Scientific had a net margin of 15.05% and a return on equity of 16.92%. The company’s revenue was up 7.2% on a year-over-year basis. During the same period last year, the firm posted $6.10 EPS. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current fiscal year.

Thermo Fisher Scientific Increases Dividend

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

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 reacquire up to 2.4% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s board believes its stock is undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction 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 directly owned 20,752 shares of the company’s stock, valued at approximately $11,230,982.40. This trade represents a 1.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company 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.