Pathstone Holdings LLC Grows Stock Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Pathstone Holdings LLC increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,556 shares of the medical research company’s stock after acquiring an additional 8,408 shares during the period. Pathstone Holdings LLC’s holdings in Thermo Fisher Scientific were worth $46,739,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Lafayette Investments Inc. boosted its position in shares of Thermo Fisher Scientific by 2.1% in the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock worth $459,000 after buying an additional 17 shares during the period. IFG Advisors LLC boosted its holdings in Thermo Fisher Scientific by 3.3% in the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after acquiring an additional 17 shares during the period. Patrick M Sweeney & Associates Inc. grew its holdings in Thermo Fisher Scientific by 1.8% during the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after purchasing an additional 18 shares in the last quarter. Drive Wealth Management LLC increased its position in shares of Thermo Fisher Scientific by 0.9% during the second quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock worth $1,175,000 after acquiring an additional 18 shares during the last quarter. Finally, Quent Capital LLC increased its holdings in Thermo Fisher Scientific by 1.0% during the 2nd quarter. Quent Capital LLC now owns 1,886 shares of the medical research company’s stock worth $1,043,000 after purchasing an additional 19 shares during the last quarter. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Trading Down 2.3 %

NYSE:TMO opened at $501.50 on Tuesday. The stock’s 50-day moving average is $584.05 and its two-hundred day moving average is $581.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The stock has a market cap of $191.82 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. Thermo Fisher Scientific Inc. has a fifty-two week low of $465.90 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results 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. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. During the same quarter last year, the business posted $5.69 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock repurchase plan 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 stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a dividend yield of 0.31%. Thermo Fisher Scientific’s dividend payout ratio is 9.78%.

Insider Buying and Selling

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the transaction, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at $7,134,197.76. This represents a 13.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,150 shares of company stock worth $20,651,865. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TMO. Evercore ISI dropped 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 report on Thursday, October 24th. TD Cowen raised their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Barclays decreased their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Sanford C. Bernstein lowered their target price on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating on the stock in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. 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’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

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.