Mirae Asset Global Investments Co. Ltd. Purchases 12,564 Shares of Thermo Fisher Scientific Inc. $TMO

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 21.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 71,387 shares of the medical research company’s stock after purchasing an additional 12,564 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Thermo Fisher Scientific were worth $34,624,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Highline Wealth Partners LLC raised its position in Thermo Fisher Scientific by 126.9% during the third quarter. Highline Wealth Partners LLC now owns 59 shares of the medical research company’s stock valued at $29,000 after purchasing an additional 33 shares during the period. Capital A Wealth Management LLC raised its holdings in Thermo Fisher Scientific by 825.0% during the 2nd quarter. Capital A Wealth Management LLC now owns 74 shares of the medical research company’s stock valued at $30,000 after buying an additional 66 shares during the period. HighMark Wealth Management LLC boosted its stake in Thermo Fisher Scientific by 140.6% during the second quarter. HighMark Wealth Management LLC now owns 77 shares of the medical research company’s stock worth $31,000 after buying an additional 45 shares during the period. Howard Hughes Medical Institute bought a new stake in shares of Thermo Fisher Scientific in the 2nd quarter worth about $33,000. Finally, Harbor Asset Planning Inc. bought a new position in Thermo Fisher Scientific during the 2nd quarter valued at about $34,000. 89.23% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, COO Michel Lagarde sold 22,046 shares of the firm’s stock in a transaction dated Thursday, December 4th. The shares were sold at an average price of $563.56, for a total value of $12,424,243.76. Following the transaction, the chief operating officer directly owned 84,117 shares of the company’s stock, valued at approximately $47,404,976.52. This trade represents a 20.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Frederick M. Lowery sold 6,912 shares of the firm’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $581.94, for a total value of $4,022,369.28. Following the completion of the sale, the executive vice president directly owned 14,367 shares of the company’s stock, valued at $8,360,731.98. This trade represents a 32.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 124,517 shares of company stock valued at $72,363,568 in the last three months. 0.33% of the stock is currently owned by company insiders.

Thermo Fisher Scientific Price Performance

Shares of TMO opened at $608.00 on Thursday. The firm has a market capitalization of $228.43 billion, a PE ratio of 35.12, a price-to-earnings-growth ratio of 4.10 and a beta of 0.91. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.50 and a quick ratio of 1.11. The company’s fifty day moving average price is $593.74 and its 200-day moving average price is $535.61. Thermo Fisher Scientific Inc. has a 1-year low of $385.46 and a 1-year high of $643.99.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Thursday, January 29th. The medical research company reported $6.57 EPS for the quarter, beating analysts’ consensus estimates of $6.44 by $0.13. The firm had revenue of $12.22 billion for the quarter, compared to analyst estimates of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.97% and a net margin of 15.02%. On average, equities research analysts predict that Thermo Fisher Scientific Inc. will post 23.28 EPS for the current year.

Thermo Fisher Scientific declared that its Board of Directors has initiated a share buyback plan on Thursday, November 6th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the medical research company to repurchase up to 2.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Monday, December 15th were issued a $0.43 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $1.72 dividend on an annualized basis and a yield of 0.3%. Thermo Fisher Scientific’s payout ratio is presently 9.94%.

Analyst Ratings Changes

TMO has been the subject of several recent analyst reports. Barclays boosted their target price on Thermo Fisher Scientific from $585.00 to $625.00 and gave the company an “overweight” rating in a research report on Thursday, October 23rd. Wall Street Zen upgraded Thermo Fisher Scientific from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Argus boosted their target price on shares of Thermo Fisher Scientific from $580.00 to $610.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Evercore ISI reaffirmed an “outperform” rating and issued a $650.00 price target on shares of Thermo Fisher Scientific in a research note on Monday, January 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Thermo Fisher Scientific in a research note on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $625.47.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific (NYSE: TMO) is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.