Chevy Chase Trust Holdings LLC Boosts Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Chevy Chase Trust Holdings LLC boosted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMOGet Rating) by 0.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 241,245 shares of the medical research company’s stock after acquiring an additional 2,129 shares during the period. Chevy Chase Trust Holdings LLC owned 0.06% of Thermo Fisher Scientific worth $122,357,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in TMO. Grayhawk Investment Strategies Inc. purchased a new position in shares of Thermo Fisher Scientific in the second quarter worth $26,000. Lowe Wealth Advisors LLC raised its holdings in shares of Thermo Fisher Scientific by 160.0% in the third quarter. Lowe Wealth Advisors LLC now owns 52 shares of the medical research company’s stock worth $26,000 after buying an additional 32 shares during the last quarter. Tortoise Investment Management LLC raised its holdings in shares of Thermo Fisher Scientific by 410.0% in the second quarter. Tortoise Investment Management LLC now owns 51 shares of the medical research company’s stock worth $28,000 after buying an additional 41 shares during the last quarter. Better Money Decisions LLC purchased a new position in shares of Thermo Fisher Scientific in the second quarter worth $29,000. Finally, New Millennium Group LLC acquired a new stake in shares of Thermo Fisher Scientific in the second quarter worth $29,000. Hedge funds and other institutional investors own 85.92% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 4,975 shares of the stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $576.84, for a total transaction of $2,869,779.00. Following the transaction, the executive vice president now directly owns 16,450 shares in the company, valued at approximately $9,489,018. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Debora L. Spar sold 200 shares of the company’s stock in a transaction that occurred on Thursday, December 15th. The stock was sold at an average price of $561.39, for a total transaction of $112,278.00. Following the completion of the transaction, the director now directly owns 979 shares of the company’s stock, valued at $549,600.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 4,975 shares of Thermo Fisher Scientific stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $576.84, for a total value of $2,869,779.00. Following the sale, the executive vice president now directly owns 16,450 shares in the company, valued at approximately $9,489,018. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 31,475 shares of company stock worth $16,073,443. Corporate insiders own 0.43% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.9 %

TMO stock opened at $575.55 on Wednesday. The company has a fifty day moving average price of $556.73 and a 200 day moving average price of $547.95. Thermo Fisher Scientific Inc. has a 12 month low of $475.77 and a 12 month high of $618.35. The company has a market cap of $225.73 billion, a price-to-earnings ratio of 32.64, a price-to-earnings-growth ratio of 2.11 and a beta of 0.83. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.74 and a quick ratio of 1.22.

Thermo Fisher Scientific (NYSE:TMOGet Rating) last posted its quarterly earnings results on Wednesday, October 26th. The medical research company reported $5.08 earnings per share for the quarter, topping analysts’ consensus estimates of $4.78 by $0.30. Thermo Fisher Scientific had a net margin of 15.92% and a return on equity of 22.97%. The business had revenue of $10.68 billion for the quarter, compared to analysts’ expectations of $9.86 billion. Sell-side analysts expect that Thermo Fisher Scientific Inc. will post 23.04 earnings per share for the current year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a share buyback plan on Thursday, November 10th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to repurchase up to 2% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 16th. Shareholders of record on Thursday, December 15th were issued a $0.30 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $1.20 dividend on an annualized basis and a yield of 0.21%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 6.75%.

Analyst Ratings Changes

A number of analysts have recently weighed in on TMO shares. Morgan Stanley cut their price objective on shares of Thermo Fisher Scientific from $678.00 to $613.00 and set an “overweight” rating on the stock in a research note on Thursday, October 27th. Credit Suisse Group cut their price objective on shares of Thermo Fisher Scientific to $620.00 in a research note on Thursday, October 27th. Benchmark lowered shares of Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Thursday, October 27th. Citigroup cut their price objective on shares of Thermo Fisher Scientific from $715.00 to $650.00 and set a “buy” rating on the stock in a research note on Thursday, October 27th. Finally, SVB Leerink raised their price target on shares of Thermo Fisher Scientific from $555.00 to $620.00 and gave the company an “outperform” rating in a research report on Friday, January 6th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $633.30.

Thermo Fisher Scientific Profile

(Get Rating)

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.

Read More

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

Receive News & Ratings for Thermo Fisher Scientific Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Thermo Fisher Scientific and related companies with MarketBeat.com's FREE daily email newsletter.