Concentric Capital Strategies LP Has $8.21 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Concentric Capital Strategies LP raised its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 946.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,278 shares of the medical research company’s stock after buying an additional 12,009 shares during the quarter. Concentric Capital Strategies LP’s holdings in Thermo Fisher Scientific were worth $8,213,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Lafayette Investments Inc. grew its holdings in shares of Thermo Fisher Scientific by 2.1% in the 2nd quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after buying an additional 17 shares during the period. IFG Advisors LLC grew its stake in Thermo Fisher Scientific by 3.3% in the third quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock valued at $329,000 after acquiring an additional 17 shares during the period. Patrick M Sweeney & Associates Inc. increased its holdings in shares of Thermo Fisher Scientific by 1.8% in the second quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock worth $570,000 after acquiring an additional 18 shares in the last quarter. Drive Wealth Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 0.9% during the 2nd quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock valued at $1,175,000 after purchasing an additional 18 shares in the last quarter. Finally, Prentice Wealth Management LLC grew its position in shares of Thermo Fisher Scientific by 2.1% in the 2nd quarter. Prentice Wealth Management LLC now owns 913 shares of the medical research company’s stock valued at $505,000 after purchasing an additional 19 shares during the period. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on TMO. Evercore ISI cut their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Redburn Atlantic began coverage on Thermo Fisher Scientific in a report on Monday, October 14th. They set a “buy” rating and a $680.00 target price for the company. Barclays cut their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a report on Wednesday, October 23rd. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Bernstein Bank raised their price target on shares of 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. 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 company’s stock. According to MarketBeat.com, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Thermo Fisher Scientific Stock Up 1.5 %

TMO stock opened at $529.63 on Monday. The business’s 50 day simple moving average is $566.33 and its 200 day simple moving average is $577.69. Thermo Fisher Scientific Inc. has a 1-year low of $487.06 and a 1-year high of $627.88. The firm has a market capitalization of $202.58 billion, a PE ratio of 33.21, a PEG ratio of 3.50 and a beta of 0.79. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64.

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

Thermo Fisher Scientific Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be paid a dividend of $0.39 per share. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is currently 9.78%.

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

Insider Activity at Thermo Fisher Scientific

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction 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 $9,333,946.08. This trade represents a 1.77 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the company’s stock in a transaction on Friday, October 25th. The shares were 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,150 shares of company stock worth $20,651,865 in the last ninety days. 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.