Zacks Investment Management Has $28.29 Million Holdings in Thermo Fisher Scientific Inc. (NYSE:TMO)

Zacks Investment Management lifted its stake in Thermo Fisher Scientific Inc. (NYSE:TMO) by 12.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,733 shares of the medical research company’s stock after purchasing an additional 5,236 shares during the quarter. Zacks Investment Management’s holdings in Thermo Fisher Scientific were worth $28,289,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Signature Resources Capital Management LLC lifted its holdings in shares of Thermo Fisher Scientific by 318.2% during the 2nd quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after buying an additional 35 shares during the last quarter. Peterson Financial Group Inc. bought a new stake in Thermo Fisher Scientific in the third quarter worth approximately $27,000. New Millennium Group LLC bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter valued at $29,000. Stephens Consulting LLC lifted its stake in shares of Thermo Fisher Scientific by 116.0% in the 2nd quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after purchasing an additional 29 shares during the last quarter. Finally, Triad Wealth Partners LLC acquired a new position in Thermo Fisher Scientific during the second quarter worth $43,000. 89.23% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on TMO. Stephens assumed coverage on Thermo Fisher Scientific in a research note on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target for the company. Evercore ISI lowered their price target on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Bernstein Bank boosted their price objective on shares of Thermo Fisher Scientific from $565.00 to $625.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 22nd. UBS Group upgraded shares of Thermo Fisher Scientific to a “strong-buy” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada lowered their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Stock Performance

Shares of NYSE:TMO opened at $529.36 on Friday. The stock has a market capitalization of $202.48 billion, a price-to-earnings ratio of 33.19, a price-to-earnings-growth ratio of 3.56 and a beta of 0.77. The business’s fifty day moving average price is $558.08 and its two-hundred day moving average price is $575.52. Thermo Fisher Scientific Inc. has a fifty-two week low of $488.02 and a fifty-two week 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.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly 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. The firm had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a net margin of 14.48% and a return on equity of 17.49%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period last year, the firm posted $5.69 EPS. As a group, analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be given a $0.39 dividend. The ex-dividend date of this dividend is Friday, December 13th. This represents a $1.56 annualized dividend and a yield of 0.29%. Thermo Fisher Scientific’s payout ratio is 9.78%.

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

Insiders Place Their Bets

In other Thermo Fisher Scientific news, SVP Michael A. Boxer sold 2,000 shares of the 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 sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at $7,134,197.76. This represents a 13.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Gianluca Pettiti sold 300 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 $168,048.00. Following the completion of the transaction, the executive vice president now directly owns 16,663 shares of the company’s stock, valued at approximately $9,333,946.08. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 47,150 shares of company stock valued at $25,954,465. 0.34% of the stock is currently owned by corporate insiders.

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.