Brophy Wealth Management LLC Buys New Shares in Thermo Fisher Scientific Inc. (NYSE:TMO)

Brophy Wealth Management LLC purchased a new stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm purchased 2,535 shares of the medical research company's stock, valued at approximately $1,568,000.

A number of other large investors have also added to or reduced their stakes in TMO. Signature Resources Capital Management LLC boosted its stake in Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company's stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. Legacy Investment Solutions LLC bought a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth about $26,000. Peterson Financial Group Inc. bought a new stake in Thermo Fisher Scientific in the 3rd quarter valued at about $27,000. New Millennium Group LLC bought a new stake in Thermo Fisher Scientific in the 2nd quarter valued at about $29,000. Finally, Stephens Consulting LLC increased its stake in Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company's stock valued at $30,000 after buying an additional 29 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO traded down $1.38 during trading on Tuesday, reaching $535.85. The stock had a trading volume of 1,918,736 shares, compared to its average volume of 1,536,297. Thermo Fisher Scientific Inc. has a 52 week low of $491.33 and a 52 week high of $627.88. The stock has a fifty day simple moving average of $556.46 and a two-hundred day simple moving average of $575.08. The firm has a market capitalization of $204.96 billion, a price-to-earnings ratio of 33.60, a P/E/G ratio of 3.56 and a beta of 0.77. 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 - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter in the previous year, the firm posted $5.69 EPS. The business's revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has initiated a share buyback plan on Friday, November 15th that allows the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization allows the medical research company to purchase up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's leadership believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.29%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 9.78%.

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total transaction of $5,302,600.00. Following the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at approximately $58,960,669.92. This trade represents a 8.25 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm's stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,150 shares of company stock worth $25,954,465. Company insiders own 0.34% of the company's stock.

Analysts Set New Price Targets

TMO has been the topic of several recent research reports. Barclays lowered their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating on the stock in a research note on Wednesday, October 23rd. Evercore ISI dropped their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Robert W. Baird dropped their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating on the stock in a research report on Thursday, October 24th. Bernstein Bank lifted their target price on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a "market perform" rating in a research report on Tuesday, October 22nd. Finally, Wells Fargo & Company dropped their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an "overweight" rating on the stock in a research report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $649.33.

About Thermo Fisher Scientific

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.