Mutual of America Capital Management LLC Raises Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Mutual of America Capital Management LLC boosted its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,152 shares of the medical research company’s stock after buying an additional 69 shares during the period. Mutual of America Capital Management LLC’s holdings in Thermo Fisher Scientific were worth $29,785,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Signature Resources Capital Management LLC grew its holdings in shares of Thermo Fisher Scientific by 318.2% in the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares in the last quarter. New Millennium Group LLC purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth $29,000. Stephens Consulting LLC raised its position in shares of Thermo Fisher Scientific by 116.0% during the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after buying an additional 29 shares in the last quarter. Headlands Technologies LLC purchased a new position in Thermo Fisher Scientific in the first quarter worth about $32,000. Finally, Bank & Trust Co bought a new stake in Thermo Fisher Scientific during the second quarter worth approximately $33,000. Institutional investors own 89.23% of the company’s stock.

Wall Street Analyst Weigh In

TMO has been the subject of several analyst reports. TD Cowen raised their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Stifel Nicolaus dropped their price objective on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Robert W. Baird lowered their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Raymond James upped their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Finally, Morgan Stanley boosted their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Price Performance

TMO opened at $513.08 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The firm has a market capitalization of $196.25 billion, a PE ratio of 32.17, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. The business’s 50-day moving average is $586.43 and its two-hundred day moving average is $582.34. Thermo Fisher Scientific Inc. has a 1 year low of $464.17 and a 1 year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 14.48% and a return on equity of 17.49%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company earned $5.69 earnings per share. Research analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a yield of 0.30%. The ex-dividend date of this dividend 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 repurchase program on Friday, November 15th that allows the company to repurchase $4.00 billion in shares. This repurchase authorization allows the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In related news, EVP Gianluca Pettiti sold 300 shares of the stock in a transaction that occurred on Friday, October 25th. The shares were sold at an average price of $560.16, for a total value of $168,048.00. Following the transaction, the executive vice president now owns 16,663 shares in the company, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction on Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the completion of the sale, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,150 shares of company stock worth $20,651,865 over the last 90 days. 0.34% of the stock is currently owned by corporate insiders.

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.