Baker Avenue Asset Management LP Acquires 7,476 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Baker Avenue Asset Management LP lifted its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 55.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 20,940 shares of the medical research company’s stock after purchasing an additional 7,476 shares during the period. Baker Avenue Asset Management LP’s holdings in Thermo Fisher Scientific were worth $12,953,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently modified their holdings of the business. Signature Resources Capital Management LLC increased its position in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares in the last quarter. New Millennium Group LLC purchased a new position in Thermo Fisher Scientific during the second quarter worth $29,000. Stephens Consulting LLC boosted its position in Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after purchasing an additional 29 shares during the period. Headlands Technologies LLC acquired a new position in Thermo Fisher Scientific in the first quarter worth about $32,000. Finally, Bank & Trust Co bought a new stake in Thermo Fisher Scientific during the second quarter worth approximately $33,000. Institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO traded down $4.15 during mid-day trading on Friday, reaching $551.74. 1,620,732 shares of the company’s stock were exchanged, compared to its average volume of 1,397,669. The firm has a market capitalization of $211.04 billion, a PE ratio of 34.59, a price-to-earnings-growth ratio of 3.65 and a beta of 0.79. Thermo Fisher Scientific Inc. has a one year low of $437.26 and a one year high of $627.88. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The business’s fifty day simple moving average is $593.95 and its two-hundred day simple moving average is $583.63.

Thermo Fisher Scientific (NYSE:TMO) last issued 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 firm had revenue of $10.60 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.69 EPS. 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 company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s payout ratio is 9.78%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a research note on Thursday, October 24th. Stifel Nicolaus lowered their price objective on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Raymond James lifted their price target on Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. upped their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Finally, Robert W. Baird lowered their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Four investment 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $649.33.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $558.12, for a total value of $5,581,200.00. Following the completion of the sale, the chief executive officer now owns 33,608 shares of the company’s stock, valued at approximately $18,757,296.96. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $558.12, for a total transaction of $5,581,200.00. Following the completion of the transaction, the chief executive officer now owns 33,608 shares in the company, valued at $18,757,296.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Marc N. Casper sold 5,850 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $557.89, for a total transaction of $3,263,656.50. Following the transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at approximately $67,611,804.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 28,150 shares of company stock worth $15,676,125. 0.34% of the stock is owned by corporate insiders.

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.