Gateway Investment Advisers LLC grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 1.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 77,897 shares of the medical research company's stock after buying an additional 1,027 shares during the period. Gateway Investment Advisers LLC's holdings in Thermo Fisher Scientific were worth $40,525,000 as of its most recent filing with the SEC.
Several other large investors also recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Thermo Fisher Scientific by 1.7% in 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 purchasing an additional 127,564 shares during the period. Coldstream Capital Management Inc. grew its stake in shares of Thermo Fisher Scientific by 11.4% in the 3rd quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company's stock valued at $5,972,000 after buying an additional 995 shares during the period. Greenwood Gearhart Inc. raised its stake in Thermo Fisher Scientific by 9.8% during the 3rd quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company's stock worth $12,730,000 after buying an additional 1,837 shares during the period. Nordea Investment Management AB boosted its holdings in Thermo Fisher Scientific by 23.6% in the fourth quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company's stock worth $28,868,000 after acquiring an additional 10,606 shares in the last quarter. Finally, Czech National Bank increased its holdings in shares of Thermo Fisher Scientific by 6.6% during the fourth quarter. Czech National Bank now owns 82,934 shares of the medical research company's stock valued at $43,145,000 after acquiring an additional 5,118 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company's stock.
Wall Street Analysts Forecast Growth
Several analysts recently issued reports on TMO shares. StockNews.com raised shares of Thermo Fisher Scientific from a "hold" rating to a "buy" rating in a research report on Tuesday. Stifel Nicolaus decreased their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Morgan Stanley cut their price target on Thermo Fisher Scientific from $670.00 to $647.00 and set an "overweight" rating for the company in a research note on Monday. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They issued a "buy" rating and a $680.00 target price on the stock. Finally, Bernstein Bank upped their price target on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a "market perform" rating in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $648.95.
Read Our Latest Analysis on Thermo Fisher Scientific
Insiders Place Their Bets
In related news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction dated Monday, December 2nd. The stock was 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 owns 111,192 shares of the company's stock, valued at approximately $58,960,669.92. This represents a 8.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction dated 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 directly owns 16,663 shares of the company's stock, valued at $9,333,946.08. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,150 shares of company stock worth $25,954,465 over the last 90 days. Corporate insiders own 0.34% of the company's stock.
Thermo Fisher Scientific Stock Performance
NYSE:TMO traded up $10.04 during trading hours on Thursday, reaching $561.51. The stock had a trading volume of 1,834,408 shares, compared to its average volume of 2,147,441. The stock has a market cap of $214.78 billion, a P/E ratio of 35.20, a price-to-earnings-growth ratio of 3.59 and a beta of 0.76. The stock has a 50 day simple moving average of $529.69 and a 200 day simple moving average of $568.01. 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 12-month low of $493.30 and a 12-month high of $627.88.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations 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 period in the previous year, the business posted $5.69 EPS. On average, research analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.
Thermo Fisher Scientific Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th were issued a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.28%. Thermo Fisher Scientific's payout ratio is 9.78%.
Thermo Fisher Scientific declared that its board has approved a share repurchase plan on Friday, November 15th that permits the company to buyback $4.00 billion in shares. This buyback authorization permits the medical research company to repurchase up to 2% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.
Thermo Fisher Scientific Profile
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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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