Simplify Asset Management Inc. increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 67.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,770 shares of the medical research company's stock after buying an additional 5,546 shares during the period. Thermo Fisher Scientific accounts for approximately 0.4% of Simplify Asset Management Inc.'s holdings, making the stock its 25th biggest holding. Simplify Asset Management Inc.'s holdings in Thermo Fisher Scientific were worth $8,518,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BDF Gestion acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at $6,368,000. Nisa Investment Advisors LLC raised its stake in shares of Thermo Fisher Scientific by 6.2% during the third quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company's stock valued at $87,093,000 after acquiring an additional 8,180 shares during the last quarter. Seven Eight Capital LP bought a new position in shares of Thermo Fisher Scientific during the first quarter valued at $1,161,000. ORG Partners LLC raised its stake in Thermo Fisher Scientific by 216.6% during the second quarter. ORG Partners LLC now owns 1,640 shares of the medical research company's stock worth $890,000 after buying an additional 1,122 shares during the last quarter. Finally, CWM LLC raised its stake in Thermo Fisher Scientific by 9.5% during the second quarter. CWM LLC now owns 18,358 shares of the medical research company's stock worth $10,152,000 after buying an additional 1,590 shares during the last quarter. 89.23% of the stock is owned by institutional investors.
Thermo Fisher Scientific Price Performance
TMO stock traded down $19.94 during midday trading on Friday, reaching $513.08. The company had a trading volume of 3,948,995 shares, compared to its average volume of 1,474,214. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. Thermo Fisher Scientific Inc. has a 1 year low of $464.17 and a 1 year high of $627.88. The company has a market capitalization of $196.25 billion, a P/E ratio of 32.68, a P/E/G ratio of 3.58 and a beta of 0.79. The firm has a 50-day moving average price of $588.39 and a 200-day moving average price of $582.69.
Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate of $5.25 by $0.03. The business had revenue of $10.60 billion during 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 period in the prior year, the business earned $5.69 EPS. On average, research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current fiscal year.
Thermo Fisher Scientific Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific's payout ratio is presently 9.78%.
Insider Activity
In related news, SVP Michael A. Boxer sold 2,000 shares of the firm's 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 $1,120,320.00. Following the transaction, the senior vice president now owns 12,736 shares of the company's stock, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. 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 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 approximately $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 37,150 shares of company stock valued at $20,651,865 in the last 90 days. 0.34% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the stock. Barclays decreased 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 research note on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an "overweight" rating for the company in a report on Thursday, October 24th. Stephens initiated coverage on shares of Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an "overweight" rating and a $680.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an "overweight" rating in a report on Friday, September 20th. Finally, Royal Bank of Canada cut their price target on shares of Thermo Fisher Scientific from $767.00 to $718.00 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 issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $649.33.
Check Out Our Latest Research Report on Thermo Fisher Scientific
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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