Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Nixon Peabody Trust Co.

Nixon Peabody Trust Co. increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 0.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 33,631 shares of the medical research company’s stock after buying an additional 103 shares during the quarter. Thermo Fisher Scientific accounts for about 1.7% of Nixon Peabody Trust Co.’s investment portfolio, making the stock its 14th biggest holding. Nixon Peabody Trust Co.’s holdings in Thermo Fisher Scientific were worth $20,803,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TMO. Acadian Asset Management LLC raised its holdings in Thermo Fisher Scientific by 3.8% in the 1st quarter. Acadian Asset Management LLC now owns 24,580 shares of the medical research company’s stock worth $14,282,000 after purchasing an additional 909 shares during the period. Edgestream Partners L.P. acquired a new position in Thermo Fisher Scientific during the first quarter worth $1,661,000. Hillsdale Investment Management Inc. grew its position in shares of Thermo Fisher Scientific by 23.0% in the first quarter. Hillsdale Investment Management Inc. now owns 321 shares of the medical research company’s stock valued at $187,000 after purchasing an additional 60 shares during the period. Bahl & Gaynor Inc. lifted its stake in Thermo Fisher Scientific by 1.2% in the 1st quarter. Bahl & Gaynor Inc. now owns 3,331 shares of the medical research company’s stock valued at $1,936,000 after buying an additional 40 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC raised its holdings in shares of Thermo Fisher Scientific by 26.5% during the first quarter. O Shaughnessy Asset Management LLC now owns 22,592 shares of the medical research company’s stock valued at $13,131,000 after acquiring an additional 4,730 shares during the last quarter. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 0.5 %

Shares of Thermo Fisher Scientific stock traded down $2.71 during trading on Monday, hitting $510.37. 20,292 shares of the stock were exchanged, compared to its average volume of 1,467,695. The stock has a market cap of $195.22 billion, a price-to-earnings ratio of 32.17, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79. The firm’s 50-day moving average price is $586.43 and its 200 day moving average price is $582.39. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.63 and a quick ratio of 1.26. Thermo Fisher Scientific Inc. has a 12-month low of $465.90 and a 12-month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results 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 net margin of 14.48% and a return on equity of 17.49%. The business had revenue of $10.60 billion during the quarter, compared to analysts’ expectations of $10.63 billion. During the same quarter in the prior year, the business posted $5.69 EPS. The company’s revenue for the quarter was up .2% on a year-over-year basis. As a group, analysts forecast that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be given 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 0.31%. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

Thermo Fisher Scientific announced that its Board of Directors has approved a stock repurchase program on Friday, November 15th that authorizes the company to buyback $4.00 billion in outstanding shares. This buyback authorization authorizes the medical research company to purchase up to 2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s board believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on TMO. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 price objective for the company. TD Cowen boosted their price objective on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Robert W. Baird lowered their price target on shares of Thermo Fisher Scientific from $632.00 to $622.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Morgan Stanley boosted their target price on shares of Thermo Fisher Scientific from $655.00 to $680.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Finally, Evercore ISI reduced 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 report on Thursday, October 24th. Four 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, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Insider Buying and Selling at Thermo Fisher Scientific

In other news, EVP Gianluca Pettiti sold 300 shares of the firm’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 $168,048.00. Following the completion of the sale, the executive vice president now owns 16,663 shares in the company, valued at approximately $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 accessible through this hyperlink. 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 transaction of $1,120,320.00. Following the completion of 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 37,150 shares of company stock worth $20,651,865. 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.