Oddo BHF Asset Management Sas Makes New $16.39 Million Investment in Thermo Fisher Scientific Inc. (NYSE:TMO)

Oddo BHF Asset Management Sas acquired a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 26,505 shares of the medical research company's stock, valued at approximately $16,393,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Thermo Fisher Scientific by 0.8% in the third 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 in the last quarter. FMR LLC grew its holdings in Thermo Fisher Scientific by 19.7% during the 3rd 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 raised its holdings in shares of 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 acquiring an additional 127,564 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Thermo Fisher Scientific by 5.7% in 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 in the last quarter. Finally, Fisher Asset Management LLC increased its position in Thermo Fisher Scientific by 2.6% during 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 purchasing an additional 65,586 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO traded up $2.28 during mid-day trading on Friday, hitting $526.89. 1,466,367 shares of the stock were exchanged, compared to its average volume of 1,539,563. The company has a market cap of $201.54 billion, a P/E ratio of 32.83, a PEG ratio of 3.59 and a beta of 0.77. 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 twelve month low of $493.30 and a twelve month high of $627.88. The stock's fifty day simple moving average is $551.83 and its two-hundred day simple moving average is $574.11.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, beating the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up .2% compared to the same quarter last year. During the same quarter last year, the company posted $5.69 EPS. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a share repurchase program on Friday, November 15th that allows the company to buyback $4.00 billion in shares. This buyback authorization allows the medical research company to buy up to 2% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's leadership 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. Stockholders of record on Friday, December 13th will be given a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. Thermo Fisher Scientific's dividend payout ratio is currently 9.78%.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm'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 transaction, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,150 shares of company stock worth $25,954,465. Corporate insiders own 0.34% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on TMO. Barclays lowered their price target on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an "equal weight" rating for the company in a report on Wednesday, October 23rd. JPMorgan Chase & Co. increased their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an "overweight" rating in a research note on Friday, September 20th. Sanford C. Bernstein lowered their price objective on Thermo Fisher Scientific from $625.00 to $620.00 and set a "market perform" rating for the company in a research report on Thursday, October 24th. Stifel Nicolaus decreased their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Finally, Evercore ISI cut their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $648.62.

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.