Thermo Fisher Scientific Inc. (TMO) Shares Bought by Eagle Asset Management Inc.

Eagle Asset Management Inc. grew its holdings in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,411 shares of the medical research company’s stock after acquiring an additional 498 shares during the quarter. Eagle Asset Management Inc.’s holdings in Thermo Fisher Scientific were worth $4,249,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. First Trust Advisors LP raised its stake in Thermo Fisher Scientific by 92.5% during the third quarter. First Trust Advisors LP now owns 303,090 shares of the medical research company’s stock worth $73,978,000 after acquiring an additional 145,619 shares in the last quarter. K.J. Harrison & Partners Inc acquired a new position in shares of Thermo Fisher Scientific in the third quarter valued at approximately $3,661,000. Swiss National Bank increased its stake in shares of Thermo Fisher Scientific by 3.2% in the second quarter. Swiss National Bank now owns 1,328,332 shares of the medical research company’s stock valued at $275,151,000 after buying an additional 41,800 shares during the period. Oakworth Capital Inc. increased its stake in shares of Thermo Fisher Scientific by 30.0% in the third quarter. Oakworth Capital Inc. now owns 1,476 shares of the medical research company’s stock valued at $360,000 after buying an additional 341 shares during the period. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Thermo Fisher Scientific by 6,260.5% in the second quarter. Massmutual Trust Co. FSB ADV now owns 13,039 shares of the medical research company’s stock valued at $2,701,000 after buying an additional 12,834 shares during the period. 85.47% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Marc N. Casper sold 125,520 shares of the company’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $247.50, for a total value of $31,066,200.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Tyler Jacks sold 4,772 shares of the company’s stock in a transaction that occurred on Monday, November 19th. The shares were sold at an average price of $239.75, for a total value of $1,144,087.00. The disclosure for this sale can be found here. Corporate insiders own 0.49% of the company’s stock.

Several research analysts have recently issued reports on the company. Zacks Investment Research downgraded Thermo Fisher Scientific from a “buy” rating to a “hold” rating in a research note on Wednesday. Morgan Stanley upped their price objective on Thermo Fisher Scientific from $254.00 to $260.00 and gave the company an “overweight” rating in a research note on Thursday, October 25th. Robert W. Baird upped their price objective on Thermo Fisher Scientific from $256.00 to $264.00 and gave the company an “outperform” rating in a research note on Thursday, October 25th. Cleveland Research downgraded Thermo Fisher Scientific from a “buy” rating to a “neutral” rating in a research note on Thursday, October 18th. Finally, Citigroup upped their price objective on Thermo Fisher Scientific from $260.00 to $280.00 and gave the company a “buy” rating in a research note on Wednesday, October 10th. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Thermo Fisher Scientific presently has an average rating of “Buy” and an average price target of $263.55.

Shares of TMO stock opened at $235.01 on Friday. Thermo Fisher Scientific Inc. has a one year low of $181.51 and a one year high of $249.95. The company has a market capitalization of $93.81 billion, a P/E ratio of 24.76, a P/E/G ratio of 1.69 and a beta of 1.08. The company has a current ratio of 1.84, a quick ratio of 1.27 and a debt-to-equity ratio of 0.66.

Thermo Fisher Scientific (NYSE:TMO) last announced its earnings results on Wednesday, October 24th. The medical research company reported $2.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.55 by $0.07. Thermo Fisher Scientific had a return on equity of 16.49% and a net margin of 10.75%. The business had revenue of $5.92 billion for the quarter, compared to analysts’ expectations of $5.70 billion. During the same period in the prior year, the business posted $2.31 earnings per share. The firm’s revenue was up 15.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Thermo Fisher Scientific Inc. will post 11.04 EPS for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock buyback plan on Friday, September 7th that authorizes the company to repurchase $2.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to purchase up to 2.1% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Monday, December 17th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.29%. The ex-dividend date is Friday, December 14th. Thermo Fisher Scientific’s payout ratio is presently 7.17%.

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Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific Inc provides analytical instruments, equipment, reagents and consumables, software, and services for research, manufacturing, analysis, discovery, and diagnostics under the Thermo Scientific, Applied Biosystems, Invitrogen, Fisher Scientific, and Unity Lab Services brands worldwide.

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Institutional Ownership by Quarter for Thermo Fisher Scientific (NYSE:TMO)

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