Pallas Capital Advisors LLC Has $6.24 Million Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Pallas Capital Advisors LLC boosted its position in Thermo Fisher Scientific Inc. (NYSE:TMO) by 2.0% in the 4th quarter, HoldingsChannel reports. The firm owned 11,985 shares of the medical research company’s stock after acquiring an additional 233 shares during the period. Pallas Capital Advisors LLC’s holdings in Thermo Fisher Scientific were worth $6,235,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Thoroughbred Financial Services LLC lifted its holdings in shares of Thermo Fisher Scientific by 37.0% during the second quarter. Thoroughbred Financial Services LLC now owns 2,716 shares of the medical research company’s stock worth $1,501,000 after buying an additional 734 shares in the last quarter. Wealthspire Advisors LLC boosted its holdings in Thermo Fisher Scientific by 1.1% in the 2nd quarter. Wealthspire Advisors LLC now owns 7,831 shares of the medical research company’s stock valued at $4,330,000 after purchasing an additional 86 shares during the period. Lyell Wealth Management LP increased its holdings in shares of Thermo Fisher Scientific by 3.0% during the second quarter. Lyell Wealth Management LP now owns 29,113 shares of the medical research company’s stock worth $16,100,000 after purchasing an additional 839 shares during the period. Seven Mile Advisory boosted its stake in shares of Thermo Fisher Scientific by 7.0% in the second quarter. Seven Mile Advisory now owns 533 shares of the medical research company’s stock valued at $294,000 after buying an additional 35 shares during the period. Finally, Diversify Wealth Management LLC bought a new position in Thermo Fisher Scientific during the 2nd quarter worth $1,897,000. Institutional investors own 89.23% of the company’s stock.

Insider Buying and Selling

In related news, EVP Gianluca Pettiti sold 300 shares of Thermo Fisher Scientific stock in a transaction on Friday, October 25th. The stock was sold at an average price of $560.16, for a total transaction of $168,048.00. Following the sale, the executive vice president now directly owns 16,663 shares in the company, valued at approximately $9,333,946.08. This trade represents a 1.77 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michael A. Boxer sold 2,000 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 $1,120,320.00. Following the sale, the senior vice president now directly owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. This represents a 13.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 47,150 shares of company stock worth $25,954,465. 0.34% of the stock is owned by corporate insiders.

Analyst Ratings Changes

TMO has been the subject of a number of analyst reports. TD Cowen boosted their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Bernstein Bank increased their price target on shares of 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. Royal Bank of Canada cut their target price on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Stephens assumed coverage on Thermo Fisher Scientific in a report on Tuesday, October 1st. They set an “overweight” rating and a $680.00 price target for the company. Finally, JPMorgan Chase & Co. raised their price objective on Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a research note on Friday, September 20th. Five 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 company. According to MarketBeat.com, Thermo Fisher Scientific has a consensus rating of “Moderate Buy” and a consensus price target of $648.95.

Thermo Fisher Scientific Stock Up 2.5 %

Shares of Thermo Fisher Scientific stock traded up $13.60 during trading on Monday, reaching $555.91. 2,251,816 shares of the company traded hands, compared to its average volume of 2,022,951. 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 firm has a market capitalization of $212.64 billion, a PE ratio of 34.85, a P/E/G ratio of 3.54 and a beta of 0.76. The company has a 50 day moving average price of $529.91 and a 200-day moving average price of $568.06. Thermo Fisher Scientific Inc. has a 1-year low of $493.30 and a 1-year high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last released its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $5.25 by $0.03. The firm had revenue of $10.60 billion for 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 business’s revenue was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $5.69 earnings per share. As a group, equities research analysts expect that Thermo Fisher Scientific Inc. will post 21.68 earnings per share for the current fiscal year.

Thermo Fisher Scientific announced that its Board of Directors has authorized a stock repurchase program on Friday, November 15th that permits the company to repurchase $4.00 billion in shares. This repurchase authorization permits the medical research company to reacquire up to 2% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s board believes its stock is undervalued.

Thermo Fisher Scientific Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a $0.39 dividend. The ex-dividend date is Friday, December 13th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.28%. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

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.