Providence Capital Advisors LLC Has $8.51 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Providence Capital Advisors LLC raised its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 31.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,752 shares of the medical research company’s stock after acquiring an additional 3,296 shares during the quarter. Thermo Fisher Scientific accounts for 1.7% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. Providence Capital Advisors LLC’s holdings in Thermo Fisher Scientific were worth $8,507,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. BDF Gestion acquired a new position in Thermo Fisher Scientific in the second quarter valued at approximately $6,368,000. Nisa Investment Advisors LLC lifted its stake in Thermo Fisher Scientific by 6.2% in the third quarter. Nisa Investment Advisors LLC now owns 140,708 shares of the medical research company’s stock valued at $87,093,000 after buying an additional 8,180 shares during the period. Summit Trail Advisors LLC raised its position in shares of Thermo Fisher Scientific by 29.2% during the third quarter. Summit Trail Advisors LLC now owns 5,378 shares of the medical research company’s stock worth $3,329,000 after purchasing an additional 1,214 shares during the period. Simplify Asset Management Inc. raised its position in shares of Thermo Fisher Scientific by 67.4% during the third quarter. Simplify Asset Management Inc. now owns 13,770 shares of the medical research company’s stock worth $8,518,000 after purchasing an additional 5,546 shares during the period. Finally, Simmons Bank raised its position in shares of Thermo Fisher Scientific by 60.2% during the third quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock worth $5,087,000 after purchasing an additional 3,090 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the sale, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the completion of the sale, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,175,513.68. This represents a 7.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,150 shares of company stock valued at $20,651,865. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $521.67 on Thursday. The business’s 50-day moving average price is $569.98 and its two-hundred day moving average price is $578.78. Thermo Fisher Scientific Inc. has a twelve month low of $480.57 and a twelve month high of $627.88. The stock has a market cap of $199.54 billion, a P/E ratio of 32.71, a PEG ratio of 3.40 and a beta of 0.79. The company has a quick ratio of 1.26, a current ratio of 1.63 and a debt-to-equity ratio of 0.64.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data 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. The company had revenue of $10.60 billion for the quarter, compared to analysts’ expectations of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. Thermo Fisher Scientific’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period last year, the firm posted $5.69 EPS. As a group, equities analysts predict that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

Thermo Fisher Scientific declared that its board has authorized a stock buyback 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 buy up to 2% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Thermo Fisher Scientific Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.30%. Thermo Fisher Scientific’s dividend payout ratio is 9.78%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on TMO shares. TD Cowen upped their target price on Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Bernstein Bank upped their target price on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus lowered their price target on Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Redburn Atlantic began coverage on Thermo Fisher Scientific in a research report on Monday, October 14th. They issued a “buy” rating and a $680.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research report on Friday, September 20th. 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 stock. According to data from MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average price target of $649.33.

Thermo Fisher Scientific Company 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.