Baron Wealth Management LLC Raises Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Baron Wealth Management LLC lifted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.1% during the third quarter, HoldingsChannel.com reports. The fund owned 1,345 shares of the medical research company’s stock after buying an additional 28 shares during the quarter. Baron Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $832,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of TMO. Edgestream Partners L.P. purchased a new position in shares of Thermo Fisher Scientific during the first quarter worth approximately $1,661,000. Hillsdale Investment Management Inc. boosted its stake in shares of Thermo Fisher Scientific by 23.0% during the first quarter. Hillsdale Investment Management Inc. now owns 321 shares of the medical research company’s stock valued at $187,000 after purchasing an additional 60 shares in the last quarter. Seven Eight Capital LP bought a new position in shares of Thermo Fisher Scientific during the first quarter valued at approximately $1,161,000. Lake Street Advisors Group LLC boosted its stake in shares of Thermo Fisher Scientific by 105.1% during the first quarter. Lake Street Advisors Group LLC now owns 4,042 shares of the medical research company’s stock valued at $2,351,000 after purchasing an additional 2,071 shares in the last quarter. Finally, Ossiam boosted its stake in shares of Thermo Fisher Scientific by 13.1% during the first quarter. Ossiam now owns 10,422 shares of the medical research company’s stock valued at $6,057,000 after purchasing an additional 1,205 shares in the last quarter. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred 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 $9,333,946.08. This represents a 1.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the stock in a transaction that occurred 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 completion of the sale, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 37,150 shares of company stock valued at $20,651,865. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Trading Down 2.3 %

Shares of Thermo Fisher Scientific stock opened at $501.50 on Tuesday. The firm has a 50-day simple moving average of $584.05 and a two-hundred day simple moving average of $581.90. The company has a market cap of $191.82 billion, a P/E 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. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The company’s revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.69 earnings per share. As a group, equities analysts predict that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its board has authorized a stock repurchase plan on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given 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 (DPR) is presently 9.78%.

Analyst Ratings Changes

Several equities research analysts have weighed in on TMO shares. Wells Fargo & Company lowered their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Morgan Stanley raised their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Stifel Nicolaus lowered their target price on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Bank of America raised their target price on shares of Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, TD Cowen raised their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.