Prospera Private Wealth LLC Purchases 9,435 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Prospera Private Wealth LLC lifted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1,868.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,940 shares of the medical research company’s stock after purchasing an additional 9,435 shares during the period. Thermo Fisher Scientific accounts for approximately 1.1% of Prospera Private Wealth LLC’s investment portfolio, making the stock its 24th biggest holding. Prospera Private Wealth LLC’s holdings in Thermo Fisher Scientific were worth $6,149,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in TMO. BDF Gestion bought a new position in Thermo Fisher Scientific during the second quarter worth about $6,368,000. Nisa Investment Advisors LLC grew its holdings in shares of Thermo Fisher Scientific by 6.2% during the 3rd quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock worth $87,093,000 after purchasing an additional 8,180 shares in the last quarter. Simplify Asset Management Inc. increased its position in shares of Thermo Fisher Scientific by 67.4% in the third quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company’s stock worth $8,518,000 after purchasing an additional 5,546 shares during the period. Simmons Bank grew its stake in Thermo Fisher Scientific by 60.2% during the third quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock worth $5,087,000 after buying an additional 3,090 shares in the last quarter. Finally, ORG Partners LLC increased its holdings in Thermo Fisher Scientific by 216.6% in the 2nd quarter. ORG Partners LLC now owns 1,640 shares of the medical research company’s stock valued at $890,000 after buying an additional 1,122 shares during the period. 89.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on TMO. Royal Bank of Canada decreased their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Sanford C. Bernstein dropped 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. Raymond James boosted their target price 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. TD Cowen lifted their price target on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company dropped 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. Four 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. Based on data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target 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 that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction on Friday, October 25th. The stock was 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 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. Insiders sold 37,150 shares of company stock valued at $20,651,865 in the last three months. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Up 1.6 %

NYSE:TMO opened at $509.15 on Wednesday. Thermo Fisher Scientific Inc. has a 52 week low of $465.90 and a 52 week 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 firm’s fifty day moving average is $581.75 and its 200-day moving average is $581.46. The firm has a market cap of $194.75 billion, a P/E ratio of 31.92, a P/E/G ratio of 3.39 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same period last year, the company posted $5.69 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

The business 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 of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.31%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

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

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.