Truepoint Inc. Makes New Investment in Thermo Fisher Scientific Inc. (NYSE:TMO)

Truepoint Inc. purchased a new position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 336 shares of the medical research company’s stock, valued at approximately $208,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Gamco Investors INC. ET AL increased its stake in shares of Thermo Fisher Scientific by 2.2% during the first quarter. Gamco Investors INC. ET AL now owns 4,116 shares of the medical research company’s stock worth $2,392,000 after buying an additional 90 shares during the period. Zurich Insurance Group Ltd FI increased its stake in shares of Thermo Fisher Scientific by 35.9% during the first quarter. Zurich Insurance Group Ltd FI now owns 216,199 shares of the medical research company’s stock worth $125,657,000 after buying an additional 57,145 shares during the period. Silvercrest Asset Management Group LLC increased its stake in shares of Thermo Fisher Scientific by 2.4% during the first quarter. Silvercrest Asset Management Group LLC now owns 45,630 shares of the medical research company’s stock worth $26,521,000 after buying an additional 1,053 shares during the period. Waverly Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 7.1% during the first quarter. Waverly Advisors LLC now owns 2,386 shares of the medical research company’s stock worth $1,387,000 after buying an additional 158 shares during the period. Finally, Benchmark Investment Advisors LLC increased its stake in shares of Thermo Fisher Scientific by 40.8% during the first quarter. Benchmark Investment Advisors LLC now owns 1,566 shares of the medical research company’s stock worth $910,000 after buying an additional 454 shares during the period. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on TMO shares. Robert W. Baird lowered their price target on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Royal Bank of Canada lowered their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus lowered 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. Evercore ISI lowered their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. 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, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Insiders Place Their Bets

In other news, CEO Marc N. Casper sold 9,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the completion of the sale, the chief executive officer now owns 14,608 shares in the company, valued at approximately $8,076,178.88. The trade was a 38.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 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 ninety days, insiders have sold 37,150 shares of company stock valued at $20,651,865. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.6 %

TMO opened at $513.26 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 firm has a market cap of $196.32 billion, a P/E ratio of 32.18, a PEG ratio of 3.41 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 52 week low of $480.57 and a 52 week high of $627.88. The business’s fifty day simple moving average is $575.70 and its 200 day simple moving average is $580.15.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the company earned $5.69 earnings per share. As a group, equities research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

Thermo Fisher Scientific declared that its board has authorized a share buyback program on Friday, November 15th that authorizes the company to repurchase $4.00 billion in shares. This repurchase authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Thermo Fisher Scientific Company 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.