Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Purchased by Procyon Private Wealth Partners LLC

Procyon Private Wealth Partners LLC raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 10.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,992 shares of the medical research company’s stock after buying an additional 185 shares during the quarter. Procyon Private Wealth Partners LLC’s holdings in Thermo Fisher Scientific were worth $1,138,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. State Street Corp lifted its stake in shares of Thermo Fisher Scientific by 2.1% during the 2nd quarter. State Street Corp now owns 15,553,658 shares of the medical research company’s stock worth $7,850,342,000 after purchasing an additional 318,930 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Thermo Fisher Scientific by 19.1% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 13,316,751 shares of the medical research company’s stock worth $6,717,901,000 after purchasing an additional 2,133,690 shares during the period. Geode Capital Management LLC lifted its stake in shares of Thermo Fisher Scientific by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 6,070,059 shares of the medical research company’s stock worth $3,052,801,000 after purchasing an additional 173,240 shares during the period. Bank of New York Mellon Corp raised its position in shares of Thermo Fisher Scientific by 10.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,993,588 shares of the medical research company’s stock worth $2,014,647,000 after buying an additional 381,863 shares during the period. Finally, Clearbridge Investments LLC raised its position in shares of Thermo Fisher Scientific by 0.8% in the 2nd quarter. Clearbridge Investments LLC now owns 2,956,545 shares of the medical research company’s stock worth $1,491,488,000 after buying an additional 24,684 shares during the period. 85.47% of the stock is currently owned by institutional investors.

In other news, CFO Stephen Williamson sold 22,550 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, November 2nd. The stock was sold at an average price of $638.10, for a total transaction of $14,389,155.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Mark Stevenson sold 26,925 shares of the business’s stock in a transaction that occurred on Monday, November 1st. The stock was sold at an average price of $632.69, for a total value of $17,035,178.25. The disclosure for this sale can be found here. Insiders own 0.44% of the company’s stock.

Several research analysts recently weighed in on TMO shares. UBS Group increased their target price on Thermo Fisher Scientific from $595.00 to $670.00 and gave the stock a “buy” rating in a research report on Tuesday, September 21st. JPMorgan Chase & Co. raised their price objective on Thermo Fisher Scientific from $600.00 to $700.00 and gave the company an “overweight” rating in a research report on Monday, September 20th. Cowen raised their price objective on Thermo Fisher Scientific from $655.00 to $696.00 and gave the company an “outperform” rating in a research report on Thursday, October 14th. Citigroup raised their price objective on Thermo Fisher Scientific from $700.00 to $715.00 and gave the company a “buy” rating in a research report on Thursday, October 28th. Finally, Jefferies Financial Group initiated coverage on Thermo Fisher Scientific in a research report on Monday, September 20th. They issued a “hold” rating and a $540.00 price objective on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $613.89.

Shares of TMO stock opened at $633.00 on Thursday. The company has a quick ratio of 2.56, a current ratio of 3.19 and a debt-to-equity ratio of 0.56. The business has a 50 day moving average of $606.29 and a two-hundred day moving average of $544.24. Thermo Fisher Scientific Inc. has a 52 week low of $433.52 and a 52 week high of $651.57. The company has a market cap of $249.43 billion, a P/E ratio of 29.41, a PEG ratio of 1.93 and a beta of 0.72.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 27th. The medical research company reported $5.76 EPS for the quarter, beating the Zacks’ consensus estimate of $4.67 by $1.09. Thermo Fisher Scientific had a return on equity of 28.14% and a net margin of 21.93%. The company had revenue of $9.33 billion during the quarter, compared to the consensus estimate of $8.41 billion. During the same period in the previous year, the firm posted $5.63 earnings per share. Thermo Fisher Scientific’s quarterly revenue was up 9.5% compared to the same quarter last year. Analysts expect that Thermo Fisher Scientific Inc. will post 23.4 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock buyback program on Thursday, September 23rd that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the medical research company to buy up to 1.3% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s board of directors believes its shares are undervalued.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 14th. Shareholders of record on Wednesday, December 15th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Tuesday, December 14th. This represents a $1.04 dividend on an annualized basis and a yield of 0.16%. Thermo Fisher Scientific’s payout ratio is currently 4.83%.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific, Inc engages in the provision of analytical instruments, equipment, reagents and consumables, software and services for research, analysis, discovery, and diagnostics. It operates through the following segments: Life Sciences Solutions, Analytical Instruments, Specialty Diagnostics, and Laboratory Products and Services.

See Also: Special Purpose Acquisition Company (SPAC)

Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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