TIAA Trust National Association Buys 7,064 Shares of Thermo Fisher Scientific Inc. $TMO

TIAA Trust National Association raised its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 5.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 131,012 shares of the medical research company’s stock after buying an additional 7,064 shares during the quarter. TIAA Trust National Association’s holdings in Thermo Fisher Scientific were worth $63,543,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Highline Wealth Partners LLC boosted its holdings in Thermo Fisher Scientific by 126.9% in the 3rd 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 position in shares of Thermo Fisher Scientific by 825.0% in the second 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 in the last quarter. Cloud Capital Management LLC bought a new stake in shares of Thermo Fisher Scientific in the third quarter valued at approximately $31,000. Howard Hughes Medical Institute bought a new position in Thermo Fisher Scientific during the 2nd quarter worth $33,000. Finally, Elevation Wealth Partners LLC increased its stake in shares of Thermo Fisher Scientific by 35.1% in the 3rd quarter. Elevation Wealth Partners LLC now owns 77 shares of the medical research company’s stock valued at $37,000 after purchasing an additional 20 shares during the last quarter. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TMO has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective on Thermo Fisher Scientific from $583.00 to $700.00 and gave the stock a “buy” rating in a research report on Friday, January 9th. HSBC raised shares of Thermo Fisher Scientific from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 1st. Morgan Stanley increased their price target on Thermo Fisher Scientific from $656.00 to $670.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Wells Fargo & Company set a $683.00 price objective on Thermo Fisher Scientific in a research report on Friday, January 30th. Finally, KeyCorp upgraded Thermo Fisher Scientific from a “sector weight” rating to an “overweight” rating and set a $750.00 target price for the company in a research report on Sunday, December 7th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus target price of $633.68.

Thermo Fisher Scientific Stock Up 1.2%

Shares of NYSE:TMO opened at $519.70 on Friday. The firm has a market cap of $195.26 billion, a P/E ratio of 29.30, a P/E/G ratio of 2.96 and a beta of 0.93. Thermo Fisher Scientific Inc. has a 12-month low of $385.46 and a 12-month high of $643.99. The business has a fifty day simple moving average of $575.17 and a 200 day simple moving average of $547.05. The company has a quick ratio of 1.53, a current ratio of 1.89 and a debt-to-equity ratio of 0.67.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Thursday, January 29th. The medical research company reported $6.57 earnings per share for the quarter, beating the consensus estimate of $6.45 by $0.12. The company had revenue of $12.22 billion during the quarter, compared to analysts’ expectations of $11.95 billion. Thermo Fisher Scientific had a return on equity of 16.92% and a net margin of 15.05%.The business’s quarterly revenue was up 7.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.10 earnings per share. Analysts predict that Thermo Fisher Scientific Inc. will post 23.28 earnings per share for the current year.

Thermo Fisher Scientific Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Friday, March 13th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 0.4%. This is an increase from Thermo Fisher Scientific’s previous quarterly dividend of $0.43. Thermo Fisher Scientific’s payout ratio is currently 9.70%.

Thermo Fisher Scientific announced that its board has authorized a stock repurchase 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 buy up to 2.4% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In other news, COO Michel Lagarde sold 22,046 shares of the business’s stock in a transaction dated Thursday, December 4th. The stock was 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 $47,404,976.52. The trade was a 20.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Gianluca Pettiti sold 400 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $541.20, for a total value of $216,480.00. Following the sale, the executive vice president directly owned 20,752 shares of the company’s stock, valued at $11,230,982.40. This represents a 1.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 98,271 shares of company stock worth $56,920,935 over the last three months. 0.33% of the stock is owned by company insiders.

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.