Bellevue Group AG Has $33.17 Million Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Bellevue Group AG raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 25.8% in the 3rd quarter, HoldingsChannel reports. The fund owned 53,623 shares of the medical research company’s stock after acquiring an additional 10,997 shares during the period. Bellevue Group AG’s holdings in Thermo Fisher Scientific were worth $33,170,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Signature Resources Capital Management LLC lifted its holdings in Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after buying an additional 35 shares during the period. Peterson Financial Group Inc. bought a new position in shares of Thermo Fisher Scientific during the third quarter worth about $27,000. New Millennium Group LLC bought a new stake in Thermo Fisher Scientific in the second quarter valued at approximately $29,000. Stephens Consulting LLC increased 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 valued at $30,000 after purchasing an additional 29 shares during the period. Finally, Bank & Trust Co bought a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $33,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Transactions at Thermo Fisher Scientific

In other news, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at $67,175,513.68. The trade was a 7.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the firm’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 $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 37,150 shares of company stock worth $20,651,865 in the last quarter. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

TMO has been the subject of several recent analyst reports. Evercore ISI decreased their price objective on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. 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 report on Thursday, October 24th. JPMorgan Chase & Co. boosted their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, 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 target on the stock. 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. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $529.63 on Friday. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $202.58 billion, a PE ratio of 33.21, a PEG ratio of 3.50 and a beta of 0.79. The stock’s 50 day moving average price is $566.33 and its 200-day moving average price is $577.84. Thermo Fisher Scientific Inc. has a twelve month low of $487.06 and a twelve month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced 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 return on equity of 17.49% and a net margin of 14.48%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.69 EPS. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific announced that its board has initiated a share repurchase 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 repurchase up to 2% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

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

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.