Border to Coast Pensions Partnership Ltd Acquires 10,305 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Border to Coast Pensions Partnership Ltd raised its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,913 shares of the medical research company’s stock after purchasing an additional 10,305 shares during the quarter. Border to Coast Pensions Partnership Ltd’s holdings in Thermo Fisher Scientific were worth $48,824,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC boosted its holdings in shares of Thermo Fisher Scientific by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 7,659,943 shares of the medical research company’s stock worth $4,719,477,000 after buying an additional 127,564 shares during the period. Coldstream Capital Management Inc. grew its position in shares of Thermo Fisher Scientific by 11.4% in the third quarter. Coldstream Capital Management Inc. now owns 9,705 shares of the medical research company’s stock valued at $5,972,000 after purchasing an additional 995 shares during the last quarter. Greenwood Gearhart Inc. increased its stake in shares of Thermo Fisher Scientific by 9.8% during the third quarter. Greenwood Gearhart Inc. now owns 20,579 shares of the medical research company’s stock worth $12,730,000 after purchasing an additional 1,837 shares during the period. Nordea Investment Management AB lifted its holdings in Thermo Fisher Scientific by 23.6% during the 4th quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock worth $28,868,000 after purchasing an additional 10,606 shares during the last quarter. Finally, Czech National Bank grew its holdings in Thermo Fisher Scientific by 6.6% in the 4th quarter. Czech National Bank now owns 82,934 shares of the medical research company’s stock valued at $43,145,000 after buying an additional 5,118 shares in the last quarter. 89.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TMO. TD Cowen boosted their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Royal Bank of Canada cut their price objective on shares of Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Morgan Stanley dropped their price target on shares of Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating for the company in a research report on Monday. Barclays lowered their price objective on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Finally, Redburn Atlantic assumed coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $648.95.

Thermo Fisher Scientific Price Performance

Shares of NYSE:TMO opened at $561.51 on Friday. The firm has a 50 day simple moving average of $529.69 and a 200 day simple moving average of $568.01. The company has a market cap of $214.78 billion, a price-to-earnings ratio of 35.20, a PEG ratio of 3.59 and a beta of 0.76. Thermo Fisher Scientific Inc. has a one year low of $493.30 and a one year high of $627.88. 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 data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The business 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%. Thermo Fisher Scientific’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.69 EPS. Research analysts predict that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were given a dividend of $0.39 per share. The ex-dividend date was Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

Thermo Fisher Scientific declared that its board has initiated a stock repurchase plan on Friday, November 15th that permits the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization permits the medical research company to buy up to 2% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the sale, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. This represents a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. The trade was a 1.77 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is currently owned by company insiders.

About Thermo Fisher Scientific

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.