Martingale Asset Management L P Buys 7,271 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Martingale Asset Management L P boosted its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 654.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,382 shares of the medical research company’s stock after purchasing an additional 7,271 shares during the quarter. Martingale Asset Management L P’s holdings in Thermo Fisher Scientific were worth $5,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in TMO. Cetera Investment Advisers boosted its holdings in Thermo Fisher Scientific by 245.9% in the first quarter. Cetera Investment Advisers now owns 56,914 shares of the medical research company’s stock worth $33,079,000 after acquiring an additional 40,460 shares in the last quarter. Cetera Advisors LLC boosted its holdings in Thermo Fisher Scientific by 62.5% in the first quarter. Cetera Advisors LLC now owns 16,453 shares of the medical research company’s stock worth $9,563,000 after acquiring an additional 6,327 shares in the last quarter. Cetera Advisor Networks LLC boosted its holdings in Thermo Fisher Scientific by 5.1% in the first quarter. Cetera Advisor Networks LLC now owns 28,845 shares of the medical research company’s stock worth $16,765,000 after acquiring an additional 1,404 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in Thermo Fisher Scientific by 54.9% in the first quarter. Westwood Holdings Group Inc. now owns 1,233 shares of the medical research company’s stock worth $717,000 after acquiring an additional 437 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its holdings in Thermo Fisher Scientific by 5.0% in the first quarter. EverSource Wealth Advisors LLC now owns 1,377 shares of the medical research company’s stock worth $784,000 after acquiring an additional 65 shares in the last quarter. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TMO. Wells Fargo & Company lowered their price target 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. Robert W. Baird reduced their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Sanford C. Bernstein reduced their price objective on Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a research note on Thursday, October 24th. Evercore ISI reduced 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. Finally, Royal Bank of Canada reduced their price objective on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $649.33.

Thermo Fisher Scientific Stock Up 1.5 %

Thermo Fisher Scientific stock opened at $529.63 on Friday. The stock has a market capitalization of $202.58 billion, a PE ratio of 33.21, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 12 month low of $487.06 and a 12 month high of $627.88. The business has a 50 day simple moving average of $566.33 and a 200-day simple moving average of $577.96. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $5.69 earnings per share. On average, analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Thermo Fisher Scientific declared that its board has authorized 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 shares through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the transaction, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now directly owns 16,663 shares in the company, valued at $9,333,946.08. This trade represents a 1.77 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,150 shares of company stock valued at $20,651,865 over the last ninety days. Insiders own 0.34% of the company’s stock.

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.