Traynor Capital Management Inc. Acquires New Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Traynor Capital Management Inc. bought a new stake in Thermo Fisher Scientific Inc. (NYSE:TMO) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 406 shares of the medical research company’s stock, valued at approximately $211,000.

Several other institutional investors have also modified their holdings of the company. Armistice Capital LLC raised its stake in shares of Thermo Fisher Scientific by 275.0% during the 2nd quarter. Armistice Capital LLC now owns 56,158 shares of the medical research company’s stock worth $31,055,000 after buying an additional 41,182 shares during the last quarter. AQR Capital Management LLC increased its holdings in Thermo Fisher Scientific by 18.1% during the 2nd quarter. AQR Capital Management LLC now owns 98,152 shares of the medical research company’s stock valued at $54,278,000 after acquiring an additional 15,009 shares in the last quarter. APG Asset Management N.V. lifted its holdings in shares of Thermo Fisher Scientific by 1.2% in the second quarter. APG Asset Management N.V. now owns 260,829 shares of the medical research company’s stock valued at $134,582,000 after purchasing an additional 3,098 shares in the last quarter. Ameriprise Financial Inc. grew its position in shares of Thermo Fisher Scientific by 32.2% in the second quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after purchasing an additional 604,895 shares during the last quarter. Finally, Dundas Partners LLP raised its position in shares of Thermo Fisher Scientific by 1.0% during the 2nd quarter. Dundas Partners LLP now owns 70,238 shares of the medical research company’s stock worth $38,842,000 after purchasing an additional 664 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 5,850 shares of Thermo Fisher Scientific stock in a transaction on Friday, November 1st. The shares were sold at an average price of $557.89, for a total value of $3,263,656.50. Following the completion of the sale, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,611,804.88. The trade was a 4.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 44,850 shares of company stock valued at $24,666,097 in the last ninety days. Insiders own 0.34% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on TMO shares. Morgan Stanley lowered their target price on Thermo Fisher Scientific from $670.00 to $647.00 and set an “overweight” rating on the stock in a report on Monday, January 13th. Bernstein Bank lifted their price objective on Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research report on Tuesday, October 22nd. Redburn Atlantic assumed 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. Robert W. Baird cut their price objective on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, TD Cowen raised their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $648.95.

Thermo Fisher Scientific Stock Performance

NYSE:TMO opened at $574.83 on Friday. Thermo Fisher Scientific Inc. has a twelve month low of $493.30 and a twelve month high of $627.88. The firm has a market capitalization of $219.87 billion, a price-to-earnings ratio of 36.04, a PEG ratio of 3.82 and a beta of 0.76. The company has a current ratio of 1.63, a quick ratio of 1.26 and a debt-to-equity ratio of 0.64. The firm’s fifty day simple moving average is $531.52 and its 200 day simple moving average is $569.01.

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, beating analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter last year, the firm earned $5.69 earnings per share. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.69 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has initiated a share repurchase plan on Friday, November 15th that authorizes the company to repurchase $4.00 billion in outstanding shares. This repurchase authorization authorizes the medical research company to reacquire up to 2% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Friday, December 13th were paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 0.27%. The ex-dividend date of this dividend was Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is 9.78%.

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.