Thermo Fisher Scientific Inc. (NYSE:TMO) is Phraction Management LLC’s 4th Largest Position

Phraction Management LLC lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,600 shares of the medical research company’s stock after purchasing an additional 395 shares during the period. Thermo Fisher Scientific makes up 6.0% of Phraction Management LLC’s holdings, making the stock its 4th biggest holding. Phraction Management LLC’s holdings in Thermo Fisher Scientific were worth $17,073,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of TMO. Signature Resources Capital Management LLC boosted its holdings in Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. New Millennium Group LLC purchased a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $29,000. Stephens Consulting LLC lifted its stake in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares during the last quarter. Headlands Technologies LLC acquired a new position in Thermo Fisher Scientific in the 1st quarter valued at about $32,000. Finally, Bank & Trust Co acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $513.08 on Friday. The business has a 50-day moving average of $586.43 and a 200-day moving average of $582.34. The company has a market capitalization of $196.25 billion, a price-to-earnings ratio of 32.17, a PEG ratio of 3.39 and a beta of 0.79. 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.

Thermo Fisher Scientific (NYSE:TMO) last posted its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping 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 net margin of 14.48% and a return on equity of 17.49%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the company posted $5.69 earnings per share. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

Thermo Fisher Scientific declared that its Board of Directors has approved a stock repurchase program on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TMO. Robert W. Baird dropped their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Royal Bank of Canada reduced their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Redburn Atlantic initiated coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 price objective for the company. Bank of America raised their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a report on Monday, September 16th. Finally, Stephens began coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $649.33.

Insider Activity at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the 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 $9,333,946.08. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 37,150 shares of company stock valued at $20,651,865. Insiders own 0.34% of the company’s stock.

About Thermo Fisher Scientific

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.