CCM Investment Advisers LLC Acquires 2,822 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

CCM Investment Advisers LLC grew its position in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 9.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,921 shares of the medical research company's stock after purchasing an additional 2,822 shares during the quarter. Thermo Fisher Scientific makes up approximately 1.8% of CCM Investment Advisers LLC's portfolio, making the stock its 19th largest holding. CCM Investment Advisers LLC's holdings in Thermo Fisher Scientific were worth $16,606,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. State Street Corp raised its stake in Thermo Fisher Scientific by 0.8% during the 3rd quarter. State Street Corp now owns 16,318,961 shares of the medical research company's stock valued at $10,100,655,000 after purchasing an additional 124,996 shares during the last quarter. FMR LLC raised its position in shares of Thermo Fisher Scientific by 19.7% during the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company's stock valued at $4,872,761,000 after buying an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC grew its position in Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company's stock worth $4,719,477,000 after buying an additional 127,564 shares in the last quarter. Franklin Resources Inc. increased its stake in Thermo Fisher Scientific by 5.7% during the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company's stock valued at $2,935,377,000 after acquiring an additional 262,062 shares during the period. Finally, Fisher Asset Management LLC lifted its position in shares of Thermo Fisher Scientific by 2.6% in the 3rd quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company's stock worth $1,630,896,000 after acquiring an additional 65,586 shares during the period. 89.23% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TMO has been the subject of a number of recent research reports. Barclays cut their target price on Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating for the company in a research note on Wednesday, October 23rd. StockNews.com downgraded shares of Thermo Fisher Scientific from a "buy" rating to a "hold" rating in a report on Monday. TD Cowen raised their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. UBS Group upgraded Thermo Fisher Scientific to a "strong-buy" rating in a research note on Monday, September 16th. Finally, Robert W. Baird decreased their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Thermo Fisher Scientific currently has an average rating of "Moderate Buy" and an average price target of $650.52.

Thermo Fisher Scientific Trading Down 0.4 %

TMO traded down $1.96 during mid-day trading on Friday, reaching $542.97. The stock had a trading volume of 2,919,946 shares, compared to its average volume of 1,985,240. 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 52 week low of $493.30 and a 52 week high of $627.88. The stock has a market capitalization of $207.69 billion, a P/E ratio of 34.04, a P/E/G ratio of 3.54 and a beta of 0.76. The firm's fifty day simple moving average is $530.21 and its two-hundred day simple moving average is $568.07.

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 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 company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter last year, the firm earned $5.69 EPS. The company's revenue for the quarter was up .2% on a year-over-year basis. On average, equities analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

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

Thermo Fisher Scientific announced that its board has initiated a stock buyback program on Friday, November 15th that permits the company to buyback $4.00 billion in outstanding shares. This buyback authorization permits the medical research company to repurchase up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares of the company's stock, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the sale, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is currently owned by company insiders.

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.