Bellevue Group AG Buys 10,997 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Bellevue Group AG raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 25.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 53,623 shares of the medical research company’s stock after purchasing an additional 10,997 shares during the quarter. Bellevue Group AG’s holdings in Thermo Fisher Scientific were worth $33,170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Lafayette Investments Inc. boosted its position in Thermo Fisher Scientific by 2.1% during the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after acquiring an additional 17 shares during the last quarter. IFG Advisors LLC grew its position in Thermo Fisher Scientific by 3.3% in the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after purchasing an additional 17 shares in the last quarter. Patrick M Sweeney & Associates Inc. increased its stake in Thermo Fisher Scientific by 1.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after buying an additional 18 shares during the last quarter. Drive Wealth Management LLC boosted its stake in shares of Thermo Fisher Scientific by 0.9% during the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after buying an additional 18 shares during the last quarter. Finally, Quent Capital LLC grew its holdings in shares of Thermo Fisher Scientific by 1.0% in the 2nd quarter. Quent Capital LLC now owns 1,886 shares of the medical research company’s stock valued at $1,043,000 after acquiring an additional 19 shares in the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the transaction, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 9,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the sale, the chief executive officer now directly owns 14,608 shares in the company, valued at $8,076,178.88. This trade represents a 38.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on TMO shares. Barclays reduced their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 23rd. Royal Bank of Canada decreased their target price on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Stifel Nicolaus dropped their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Redburn Atlantic assumed coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price objective for the company. Finally, Morgan Stanley upped their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $529.63 on Friday. The firm has a 50-day moving average price of $566.33 and a two-hundred day moving average price of $577.84. Thermo Fisher Scientific Inc. has a 12-month low of $487.06 and a 12-month high of $627.88. The company has a market capitalization of $202.58 billion, a P/E ratio of 33.21, a P/E/G ratio of 3.50 and a beta of 0.79. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.69 earnings per share. Analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a stock repurchase program on Friday, November 15th that authorizes the company to buyback $4.00 billion in shares. This buyback authorization authorizes the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. Thermo Fisher Scientific’s payout ratio is 9.78%.

Thermo Fisher Scientific Profile

Thermo Fisher Scientific Inc provides life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services in the North America, Europe, Asia-Pacific, and internationally. The company's Life Sciences Solutions segment offers reagents, instruments, and consumables for biological and medical research, discovery, and production of drugs and vaccines, as well as diagnosis of infections and diseases; and solutions include biosciences, genetic sciences, and bio production to pharmaceutical, biotechnology, agricultural, clinical, healthcare, academic, and government markets.