Thermo Fisher Scientific Inc. (NYSE:TMO) is Brown Shipley& Co Ltd’s 10th Largest Position

Brown Shipley& Co Ltd reduced its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 19.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 13,240 shares of the medical research company’s stock after selling 3,210 shares during the quarter. Thermo Fisher Scientific accounts for approximately 4.0% of Brown Shipley& Co Ltd’s portfolio, making the stock its 10th largest holding. Brown Shipley& Co Ltd’s holdings in Thermo Fisher Scientific were worth $8,190,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Signature Resources Capital Management LLC grew its stake in Thermo Fisher Scientific by 318.2% in the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after acquiring an additional 35 shares during the last quarter. Peterson Financial Group Inc. purchased a new position in shares of Thermo Fisher Scientific during the 3rd quarter worth approximately $27,000. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth approximately $29,000. Stephens Consulting LLC increased its position 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 buying an additional 29 shares in the last quarter. Finally, Bank & Trust Co purchased a new stake in shares of Thermo Fisher Scientific in the second quarter valued at $33,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Thermo Fisher Scientific Price Performance

Shares of NYSE TMO opened at $521.67 on Thursday. The company has a market capitalization of $199.54 billion, a price-to-earnings ratio of 32.71, a PEG ratio of 3.40 and a beta of 0.79. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. Thermo Fisher Scientific Inc. has a 1-year low of $480.57 and a 1-year high of $627.88. The business has a 50-day moving average of $569.98 and a 200-day moving average of $578.78.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating 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 company had revenue of $10.60 billion for the quarter, compared to analyst estimates of $10.63 billion. During the same quarter last year, the firm posted $5.69 earnings per share. The business’s quarterly revenue was up .2% on a year-over-year basis. On average, equities analysts anticipate that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current fiscal year.

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

Thermo Fisher Scientific Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s payout ratio is 9.78%.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly owns 121,192 shares in the company, valued at $67,175,513.68. This trade represents a 7.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael A. Boxer sold 2,000 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 $1,120,320.00. Following the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. The trade was a 13.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 37,150 shares of company stock valued at $20,651,865. 0.34% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on TMO. Redburn Atlantic began coverage on shares of Thermo Fisher Scientific in a report on Monday, October 14th. They issued a “buy” rating and a $680.00 target price on the stock. Evercore ISI lowered their target price 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. Wells Fargo & Company decreased their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Bank of America upped their target price on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Finally, Royal Bank of Canada decreased their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four 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 MarketBeat, the company presently 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.