CreativeOne Wealth LLC Grows Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

CreativeOne Wealth LLC raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,027 shares of the medical research company’s stock after acquiring an additional 693 shares during the period. CreativeOne Wealth LLC’s holdings in Thermo Fisher Scientific were worth $3,728,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BDF Gestion bought a new position in Thermo Fisher Scientific during the 2nd quarter worth approximately $6,368,000. Nisa Investment Advisors LLC lifted its holdings in Thermo Fisher Scientific by 6.2% in the 3rd quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock worth $87,093,000 after buying an additional 8,180 shares during the period. Summit Trail Advisors LLC lifted its stake in shares of Thermo Fisher Scientific by 29.2% in the 3rd quarter. Summit Trail Advisors LLC now owns 5,378 shares of the medical research company’s stock valued at $3,329,000 after purchasing an additional 1,214 shares during the period. Simplify Asset Management Inc. lifted its stake in shares of Thermo Fisher Scientific by 67.4% in the 3rd quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company’s stock valued at $8,518,000 after purchasing an additional 5,546 shares during the period. Finally, Simmons Bank lifted its stake in shares of Thermo Fisher Scientific by 60.2% in the 3rd quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock valued at $5,087,000 after purchasing an additional 3,090 shares during the period. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was 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 directly owns 121,192 shares of the company’s stock, valued at approximately $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s 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 $1,120,320.00. Following the completion of the sale, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,150 shares of company stock valued at $20,651,865. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $521.67 on Thursday. The company has a 50 day moving average price of $569.98 and a 200-day moving average price of $578.78. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The stock has a market capitalization of $199.54 billion, a PE ratio of 32.71, a PEG ratio of 3.40 and a beta of 0.79. Thermo Fisher Scientific Inc. has a fifty-two week low of $480.57 and a fifty-two week high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $10.63 billion. During the same period in the previous year, the company earned $5.69 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Equities analysts predict that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has approved a share buyback program 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 reacquire up to 2% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Evercore ISI lowered their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Barclays reduced their target price 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. Bernstein Bank lifted their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a report on Tuesday, October 22nd. Stifel Nicolaus reduced their target price 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. Finally, Wells Fargo & Company reduced their target price on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific 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.