Jacobs & Co. CA Purchases 1,473 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Jacobs & Co. CA lifted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 15,206 shares of the medical research company’s stock after acquiring an additional 1,473 shares during the period. Jacobs & Co. CA’s holdings in Thermo Fisher Scientific were worth $7,910,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in Thermo Fisher Scientific by 0.8% during the third quarter. State Street Corp now owns 16,318,961 shares of the medical research company’s stock valued at $10,100,655,000 after purchasing an additional 124,996 shares during the period. FMR LLC increased its holdings in Thermo Fisher Scientific by 19.7% during the third quarter. FMR LLC now owns 7,877,459 shares of the medical research company’s stock valued at $4,872,761,000 after buying an additional 1,294,453 shares during the last quarter. Geode Capital Management LLC increased its holdings in Thermo Fisher Scientific by 1.7% during the third quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock valued at $4,719,477,000 after buying an additional 127,564 shares during the last quarter. Franklin Resources Inc. increased its holdings in Thermo Fisher Scientific by 5.7% during the third quarter. Franklin Resources Inc. now owns 4,853,133 shares of the medical research company’s stock valued at $2,935,377,000 after buying an additional 262,062 shares during the last quarter. Finally, Fisher Asset Management LLC increased its holdings in Thermo Fisher Scientific by 2.6% during the third quarter. Fisher Asset Management LLC now owns 2,636,558 shares of the medical research company’s stock valued at $1,630,896,000 after buying an additional 65,586 shares during the last quarter. Institutional investors own 89.23% of the company’s stock.

Insider Activity at Thermo Fisher Scientific

In related news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value 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 approximately $9,333,946.08. The trade was a 1.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Marc N. Casper sold 10,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the completion of the sale, the chief executive officer now directly owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. The trade was a 7.62 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,150 shares of company stock worth $25,954,465 in the last three months. Company insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on TMO. Barclays reduced their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 23rd. TD Cowen increased their price objective on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Robert W. Baird lowered their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Scotiabank began coverage on shares of Thermo Fisher Scientific in a report on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 target price for the company. Finally, Bernstein Bank raised their price target on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $650.52.

Thermo Fisher Scientific Stock Performance

NYSE TMO traded up $1.78 on Friday, hitting $546.71. 2,001,454 shares of the company’s stock traded hands, compared to its average volume of 1,826,390. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The firm’s 50-day moving average price is $530.21 and its two-hundred day moving average price is $568.07. The firm has a market capitalization of $209.12 billion, a PE ratio of 34.28, a P/E/G ratio of 3.54 and a beta of 0.76.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 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 business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the previous year, the business posted $5.69 EPS. The business’s quarterly revenue was up .2% compared to the same quarter last year. As a group, analysts expect that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific announced that its board has initiated a share buyback 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 reacquire up to 2% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

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 paid a $0.39 dividend. This represents a $1.56 annualized dividend 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.