Spinnaker Investment Group LLC Invests $203,000 in Thermo Fisher Scientific Inc. (NYSE:TMO)

Spinnaker Investment Group LLC acquired a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 328 shares of the medical research company’s stock, valued at approximately $203,000.

A number of other hedge funds have also made changes to their positions in TMO. Cedar Wealth Management LLC increased its stake in Thermo Fisher Scientific by 14.5% in the 1st quarter. Cedar Wealth Management LLC now owns 134 shares of the medical research company’s stock valued at $78,000 after buying an additional 17 shares during the period. Lafayette Investments Inc. lifted its position in Thermo Fisher Scientific by 2.1% in the second quarter. Lafayette Investments Inc. now owns 830 shares of the medical research company’s stock valued at $459,000 after purchasing an additional 17 shares during the period. IFG Advisors LLC increased its position in Thermo Fisher Scientific by 3.3% during the 3rd quarter. IFG Advisors LLC now owns 532 shares of the medical research company’s stock worth $329,000 after purchasing an additional 17 shares during the period. Patrick M Sweeney & Associates Inc. lifted its holdings in shares of Thermo Fisher Scientific by 1.8% in the 2nd quarter. Patrick M Sweeney & Associates Inc. now owns 1,031 shares of the medical research company’s stock valued at $570,000 after buying an additional 18 shares during the period. Finally, Drive Wealth Management LLC boosted its stake in shares of Thermo Fisher Scientific by 0.9% in the second quarter. Drive Wealth Management LLC now owns 2,123 shares of the medical research company’s stock valued at $1,175,000 after buying an additional 18 shares in the last quarter. Institutional investors and hedge funds own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 3.7 %

TMO opened at $513.08 on Friday. The stock has a market capitalization of $196.25 billion, a price-to-earnings ratio of 32.17, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 12 month low of $464.17 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 business has a 50-day moving average of $586.43 and a two-hundred day moving average of $582.34.

Thermo Fisher Scientific (NYSE:TMO) last issued its quarterly earnings results on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, topping the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. Thermo Fisher Scientific’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.69 earnings per share. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current year.

Thermo Fisher Scientific Announces Dividend

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

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

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. This represents a 38.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael A. Boxer sold 2,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the senior vice president now directly owns 12,736 shares in the company, valued at $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 37,150 shares of company stock worth $20,651,865 in the last three months. 0.34% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on TMO. Morgan Stanley upped their price target on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a research note on Friday, September 20th. Barclays decreased their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating on the stock in a research note on Wednesday, October 23rd. Wells Fargo & Company reduced their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating for the company in a report on Thursday, October 24th. UBS Group upgraded Thermo Fisher Scientific to a “strong-buy” rating in a research report on Monday, September 16th. Finally, Robert W. Baird lowered their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Thermo Fisher Scientific currently has an average rating of “Moderate Buy” and a consensus 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.