Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Holdings Raised by Smithfield Trust Co

Smithfield Trust Co increased its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,048 shares of the medical research company’s stock after buying an additional 96 shares during the period. Smithfield Trust Co’s holdings in Thermo Fisher Scientific were worth $3,731,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signature Resources Capital Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $27,000. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific during the 2nd quarter valued at about $29,000. Stephens Consulting LLC boosted its stake 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 valued at $30,000 after purchasing an additional 29 shares during the period. Finally, Bank & Trust Co acquired a new position in Thermo Fisher Scientific during the 2nd quarter valued at about $33,000. 89.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TMO has been the subject of a number of analyst reports. Robert W. Baird reduced their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. 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. Stephens began coverage on shares of Thermo Fisher Scientific in a research note on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target for the company. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They issued a “buy” rating and a $680.00 price target for the company. Finally, Morgan Stanley upped their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Four equities research 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 stock. According to data from MarketBeat, Thermo Fisher Scientific has an average rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Trading Up 0.7 %

Shares of TMO stock opened at $512.86 on Thursday. Thermo Fisher Scientific Inc. has a 12-month low of $476.45 and a 12-month high of $627.88. The company has a market capitalization of $196.17 billion, a P/E ratio of 32.15, a P/E/G ratio of 3.37 and a beta of 0.79. The firm has a 50-day moving average price of $579.63 and a 200 day moving average price of $580.98. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

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

Thermo Fisher Scientific Dividend Announcement

The company also recently declared 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. This represents a $1.56 annualized dividend and a yield of 0.30%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

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

Insider Buying and Selling at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the sale, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,175,513.68. This trade represents a 7.62 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares of the company’s stock, 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. In the last 90 days, insiders sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is currently 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.