Ingalls & Snyder LLC Raises Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Ingalls & Snyder LLC grew its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,347 shares of the medical research company’s stock after purchasing an additional 147 shares during the quarter. Ingalls & Snyder LLC’s holdings in Thermo Fisher Scientific were worth $833,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC lifted its position in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Thermo Fisher Scientific during the third quarter valued at $27,000. New Millennium Group LLC purchased a new stake in shares of Thermo Fisher Scientific during the second quarter worth about $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 worth $30,000 after purchasing an additional 29 shares during the last quarter. Finally, Triad Wealth Partners LLC acquired a new stake in Thermo Fisher Scientific in the 2nd quarter worth about $43,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Thermo Fisher Scientific news, CEO Marc N. Casper sold 9,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $552.86, for a total value of $4,975,740.00. Following the completion of the sale, the chief executive officer now owns 14,608 shares in the company, valued at approximately $8,076,178.88. The trade was a 38.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through 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 in the company, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 37,150 shares of company stock valued at $20,651,865. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.8 %

Shares of NYSE:TMO opened at $534.42 on Wednesday. Thermo Fisher Scientific Inc. has a fifty-two week low of $487.06 and a fifty-two week high of $627.88. The firm’s 50 day moving average price is $563.17 and its 200 day moving average price is $576.79. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64. The stock has a market cap of $204.42 billion, a price-to-earnings ratio of 33.51, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings results 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 return on equity of 17.49% and a net margin of 14.48%. The company 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. Thermo Fisher Scientific’s revenue for the quarter was up .2% on a year-over-year basis. As a group, equities research analysts predict that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific declared that its Board of Directors has authorized a stock 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 purchase up to 2% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders 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 dividend yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on TMO shares. Royal Bank of Canada decreased their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Sanford C. Bernstein dropped their target price on shares of Thermo Fisher Scientific from $625.00 to $620.00 and set a “market perform” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus decreased their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Barclays cut their price objective on shares of Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their target price on Thermo Fisher Scientific from $650.00 to $670.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $649.33.

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.