Zacks Investment Management Buys 5,236 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Zacks Investment Management grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 12.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,733 shares of the medical research company's stock after purchasing an additional 5,236 shares during the quarter. Zacks Investment Management's holdings in Thermo Fisher Scientific were worth $28,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Howard Capital Management Group LLC boosted its position in shares of Thermo Fisher Scientific by 1.2% during the 2nd quarter. Howard Capital Management Group LLC now owns 54,289 shares of the medical research company's stock worth $30,022,000 after purchasing an additional 632 shares in the last quarter. S. R. Schill & Associates grew its stake in Thermo Fisher Scientific by 64.4% in the second quarter. S. R. Schill & Associates now owns 2,187 shares of the medical research company's stock valued at $1,209,000 after acquiring an additional 857 shares during the period. Park National Corp OH raised its position in shares of Thermo Fisher Scientific by 6.5% during the second quarter. Park National Corp OH now owns 379 shares of the medical research company's stock worth $210,000 after purchasing an additional 23 shares during the period. D.B. Root & Company LLC lifted its holdings in shares of Thermo Fisher Scientific by 9.0% in the 2nd quarter. D.B. Root & Company LLC now owns 676 shares of the medical research company's stock worth $374,000 after purchasing an additional 56 shares in the last quarter. Finally, Transform Wealth LLC grew its position in Thermo Fisher Scientific by 3.6% in the 2nd quarter. Transform Wealth LLC now owns 10,764 shares of the medical research company's stock valued at $5,957,000 after purchasing an additional 370 shares during the period. Institutional investors own 89.23% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on TMO. Sanford C. Bernstein dropped their price objective on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a "market perform" rating on the stock in a research note on Thursday, October 24th. Redburn Atlantic began coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They set a "buy" rating and a $680.00 target price on the stock. Evercore ISI reduced their target price on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Wells Fargo & Company decreased 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 research note on Thursday, October 24th. Finally, Stifel Nicolaus decreased their price target on 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. Four equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $649.33.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 16,663 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the sale, the senior vice president now directly 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is currently owned by insiders.

Thermo Fisher Scientific Stock Performance

Shares of Thermo Fisher Scientific stock traded up $8.50 during trading hours on Friday, reaching $529.36. The company had a trading volume of 1,869,732 shares, compared to its average volume of 2,146,533. 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 one year low of $488.02 and a one year high of $627.88. The firm has a market cap of $202.48 billion, a PE ratio of 33.19, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77. The business has a fifty day simple moving average of $558.08 and a 200 day simple moving average of $575.41.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion for the quarter, compared to the consensus estimate 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 firm posted $5.69 earnings per share. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. Thermo Fisher Scientific's dividend payout ratio is currently 9.78%.

Thermo Fisher Scientific declared that its board has approved a stock buyback plan on Friday, November 15th that allows the company to buyback $4.00 billion in outstanding shares. This buyback authorization allows the medical research company to reacquire up to 2% of its shares through open market purchases. Shares buyback plans are often an indication that the company's board believes its shares are undervalued.

Thermo Fisher Scientific Company 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.