Peak Asset Management LLC Grows Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Peak Asset Management LLC raised its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 9.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,403 shares of the medical research company’s stock after purchasing an additional 286 shares during the period. Peak Asset Management LLC’s holdings in Thermo Fisher Scientific were worth $2,105,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in TMO. Fortis Capital Management LLC lifted its stake in Thermo Fisher Scientific by 5.3% in the third quarter. Fortis Capital Management LLC now owns 1,599 shares of the medical research company’s stock worth $989,000 after acquiring an additional 80 shares during the last quarter. Plato Investment Management Ltd raised its holdings in shares of Thermo Fisher Scientific by 7.4% in the 3rd quarter. Plato Investment Management Ltd now owns 7,547 shares of the medical research company’s stock valued at $4,664,000 after purchasing an additional 523 shares in the last quarter. D Orazio & Associates Inc. purchased a new position in Thermo Fisher Scientific in the third quarter valued at $200,000. Oppenheimer Asset Management Inc. raised its stake in Thermo Fisher Scientific by 9.0% in the third quarter. Oppenheimer Asset Management Inc. now owns 90,343 shares of the medical research company’s stock valued at $55,883,000 after buying an additional 7,427 shares in the last quarter. Finally, Simmons Bank lifted its holdings in Thermo Fisher Scientific by 60.2% during the 3rd quarter. Simmons Bank now owns 8,224 shares of the medical research company’s stock worth $5,087,000 after buying an additional 3,090 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Marc N. Casper sold 9,000 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $1,120,320.00. Following the transaction, the senior vice president now owns 12,736 shares in the company, valued at $7,134,197.76. The trade was a 0.00 % 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, CEO Marc N. Casper sold 9,000 shares of the company’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 transaction, the chief executive officer now owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,150 shares of company stock valued at $20,651,865 over the last quarter. Company insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Stock Up 0.2 %

TMO stock opened at $541.90 on Thursday. Thermo Fisher Scientific Inc. has a 12 month low of $455.22 and a 12 month high of $627.88. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. The company’s 50 day simple moving average is $591.27 and its 200-day simple moving average is $583.32. The firm has a market capitalization of $207.28 billion, a PE ratio of 33.97, a P/E/G ratio of 3.57 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $10.60 billion for the quarter, compared to the consensus estimate of $10.63 billion. During the same period in the prior year, the business earned $5.69 earnings per share. The business’s revenue was up .2% on a year-over-year basis. Equities analysts expect that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed 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. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. UBS Group raised Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Bank of America raised their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Robert W. Baird decreased their price objective on Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Bernstein Bank upped their target price on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the company a “market perform” rating in a report on Tuesday, October 22nd. Finally, Morgan Stanley upped their price objective on Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Thermo Fisher Scientific currently has a consensus rating of “Moderate Buy” and an average target price 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.