Baker Avenue Asset Management LP increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 55.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,940 shares of the medical research company's stock after purchasing an additional 7,476 shares during the period. Baker Avenue Asset Management LP's holdings in Thermo Fisher Scientific were worth $12,953,000 as of its most recent SEC filing.
Several other institutional investors have also recently modified their holdings of TMO. Signature Resources Capital Management LLC grew its stake in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company's stock worth $25,000 after acquiring an additional 35 shares during the period. New Millennium Group LLC purchased a new stake in Thermo Fisher Scientific in the 2nd quarter worth approximately $29,000. Stephens Consulting LLC grew its stake in shares of 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. Headlands Technologies LLC purchased a new stake in shares of Thermo Fisher Scientific during the 1st quarter valued at $32,000. Finally, Bank & Trust Co purchased a new stake in shares of Thermo Fisher Scientific during the 2nd quarter valued at $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.
Thermo Fisher Scientific Stock Down 0.7 %
Shares of Thermo Fisher Scientific stock traded down $4.15 during trading on Friday, reaching $551.74. The company had a trading volume of 1,620,732 shares, compared to its average volume of 1,397,669. The company has a market cap of $211.04 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 3.65 and a beta of 0.79. The firm's fifty day moving average is $593.95 and its 200-day moving average is $583.69. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. Thermo Fisher Scientific Inc. has a fifty-two week low of $437.26 and a fifty-two week high of $627.88.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company's revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.69 EPS. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current year.
Thermo Fisher Scientific Announces Dividend
The firm also recently disclosed 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific's dividend payout ratio is presently 9.78%.
Analyst Ratings Changes
TMO has been the subject of several research reports. Bernstein Bank boosted their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a "market perform" rating in a research note on Tuesday, October 22nd. UBS Group raised shares of Thermo Fisher Scientific to a "strong-buy" rating in a research note on Monday, September 16th. Bank of America upped their price target on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a "buy" rating in a research report on Monday, September 16th. Raymond James upped their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an "outperform" rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada decreased their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. Four equities research 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. According to data from MarketBeat.com, Thermo Fisher Scientific has a consensus rating of "Moderate Buy" and an average target price of $649.33.
View Our Latest Stock Report on TMO
Insider Activity at Thermo Fisher Scientific
In related news, EVP Gianluca Pettiti sold 300 shares of the business's stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares of the company's stock, valued at $9,333,946.08. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the transaction, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,175,513.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the company'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 $168,048.00. Following the completion of the transaction, the executive vice president now owns 16,663 shares of the company's stock, valued at approximately $9,333,946.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,150 shares of company stock valued at $15,676,125 in the last quarter. Insiders own 0.34% of the company's stock.
About Thermo Fisher Scientific
(
Free Report)
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.
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