Kings Path Partners LLC Boosts Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Kings Path Partners LLC increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 13.1% in the fourth quarter, Holdings Channel reports. The firm owned 2,637 shares of the medical research company’s stock after buying an additional 306 shares during the period. Kings Path Partners LLC’s holdings in Thermo Fisher Scientific were worth $1,372,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of TMO. Nordea Investment Management AB raised its stake in shares of Thermo Fisher Scientific by 23.6% in the 4th quarter. Nordea Investment Management AB now owns 55,452 shares of the medical research company’s stock valued at $28,868,000 after acquiring an additional 10,606 shares during the period. Everence Capital Management Inc. lifted its stake in Thermo Fisher Scientific by 4.1% during the fourth quarter. Everence Capital Management Inc. now owns 18,519 shares of the medical research company’s stock worth $9,634,000 after purchasing an additional 730 shares in the last quarter. Legacy Wealth Management LLC MS boosted its position in shares of Thermo Fisher Scientific by 6.0% during the third quarter. Legacy Wealth Management LLC MS now owns 4,308 shares of the medical research company’s stock worth $2,665,000 after buying an additional 244 shares during the period. Retirement Systems of Alabama raised its holdings in shares of Thermo Fisher Scientific by 147.2% in the 3rd quarter. Retirement Systems of Alabama now owns 208,155 shares of the medical research company’s stock valued at $128,758,000 after buying an additional 123,952 shares during the period. Finally, Oddo BHF Asset Management Sas purchased a new position in Thermo Fisher Scientific during the 3rd quarter valued at about $16,393,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were sold at an average price of $560.16, for a total transaction 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. The trade was a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $530.26, for a total value of $5,302,600.00. Following the completion of the sale, the chief executive officer now directly owns 111,192 shares in the company, valued at $58,960,669.92. This represents a 8.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on TMO shares. Scotiabank initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, December 23rd. They issued a “sector perform” rating and a $605.00 price objective for the company. Evercore ISI dropped their price target on shares of 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. Bank of America decreased their target price on Thermo Fisher Scientific from $675.00 to $660.00 and set a “buy” rating for the company in a report on Friday, December 13th. Stephens started coverage on Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target on the stock. Finally, Robert W. Baird lowered their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Five research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $650.05.

Thermo Fisher Scientific Stock Performance

TMO traded up $7.21 during trading on Monday, hitting $539.23. 979,716 shares of the stock were exchanged, compared to its average volume of 1,415,205. The firm has a market capitalization of $206.26 billion, a P/E ratio of 33.81, a PEG ratio of 3.54 and a beta of 0.76. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88. The stock has a fifty day moving average price of $530.72 and a two-hundred day moving average price of $568.67. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. Thermo Fisher Scientific’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.69 EPS. As a group, sell-side analysts predict that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current year.

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

Thermo Fisher Scientific Dividend Announcement

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

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.