Pallas Capital Advisors LLC Purchases 233 Shares of Thermo Fisher Scientific Inc. (NYSE:TMO)

Pallas Capital Advisors LLC increased its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,985 shares of the medical research company’s stock after buying an additional 233 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Thermo Fisher Scientific were worth $6,235,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Legacy Investment Solutions LLC bought a new stake in Thermo Fisher Scientific during the 3rd quarter worth approximately $26,000. Peterson Financial Group Inc. purchased a new stake in Thermo Fisher Scientific in the 3rd quarter worth approximately $27,000. HWG Holdings LP purchased a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at $50,000. RPg Family Wealth Advisory LLC bought a new position in shares of Thermo Fisher Scientific in the third quarter worth $50,000. Finally, Teachers Insurance & Annuity Association of America purchased a new position in Thermo Fisher Scientific during the third quarter worth about $65,000. Institutional investors and hedge funds own 89.23% of the company’s stock.

Insider Buying and Selling

In related news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific 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 completion of the sale, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at $7,134,197.76. The trade was a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Gianluca Pettiti sold 300 shares of the business’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 $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, 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 a total of 47,150 shares of company stock worth $25,954,465 in the last three months. Insiders own 0.34% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. StockNews.com downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research report on Monday, January 6th. Wells Fargo & Company reduced their target price on shares of Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. TD Cowen upped their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research note on Monday, September 16th. Finally, Bernstein Bank increased their target price on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a research note on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $648.95.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO traded up $13.60 during trading on Monday, hitting $555.91. The company had a trading volume of 2,251,816 shares, compared to its average volume of 2,022,951. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.26 and a current ratio of 1.63. Thermo Fisher Scientific Inc. has a 52 week low of $493.30 and a 52 week high of $627.88. The company has a market cap of $212.64 billion, a P/E ratio of 34.85, a PEG ratio of 3.54 and a beta of 0.76. The business’s 50-day moving average is $529.91 and its 200 day moving average is $568.06.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same period in the prior year, the company posted $5.69 earnings per share. Thermo Fisher Scientific’s revenue for the quarter was up .2% on a year-over-year basis. Equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

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

Thermo Fisher Scientific Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.28%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 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.