SevenBridge Financial Group LLC Increases Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

SevenBridge Financial Group LLC raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 19.0% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 951 shares of the medical research company’s stock after acquiring an additional 152 shares during the period. SevenBridge Financial Group LLC’s holdings in Thermo Fisher Scientific were worth $588,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Signature Resources Capital Management LLC increased its position in Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock worth $25,000 after purchasing an additional 35 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Thermo Fisher Scientific in the 3rd quarter worth $27,000. New Millennium Group LLC acquired a new position in Thermo Fisher Scientific in the second quarter valued at $29,000. Stephens Consulting LLC increased its stake in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after acquiring an additional 29 shares during the last quarter. Finally, Bank & Trust Co purchased a new position in shares of Thermo Fisher Scientific in the 2nd quarter worth about $33,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on TMO. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research report on Monday, October 14th. They set a “buy” rating and a $680.00 target price for the company. Robert W. Baird cut their target price on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. TD Cowen increased their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Bernstein Bank boosted their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. Finally, Sanford C. Bernstein lowered their target price 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. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Stock Performance

Shares of TMO stock opened at $513.26 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. The stock has a market capitalization of $196.32 billion, a price-to-earnings ratio of 32.18, a PEG ratio of 3.41 and a beta of 0.79. Thermo Fisher Scientific Inc. has a one year low of $480.57 and a one year high of $627.88. The company’s 50-day simple moving average is $575.70 and its 200-day simple moving average is $580.15.

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 for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the previous year, the business earned $5.69 EPS. The business’s quarterly revenue was up .2% on a year-over-year basis. Equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has approved 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 reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In other news, CEO Marc N. Casper sold 10,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the sale, the chief executive officer now directly owns 121,192 shares in the company, valued at approximately $67,175,513.68. This represents a 7.62 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Gianluca Pettiti sold 300 shares of the business’s 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 of the company’s stock, valued at $9,333,946.08. This represents a 1.77 % decrease in their position. 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 quarter. 0.34% of the stock is owned by company 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.