Sumitomo Mitsui Trust Group Inc. Increases Stake in Thermo Fisher Scientific Inc. (NYSE:TMO)

Sumitomo Mitsui Trust Group Inc. grew its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,104,441 shares of the medical research company’s stock after acquiring an additional 18,160 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.29% of Thermo Fisher Scientific worth $683,174,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Signature Resources Capital Management LLC lifted its position 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 worth $25,000 after purchasing an additional 35 shares during the last quarter. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the 2nd quarter valued at $29,000. Stephens Consulting LLC boosted its stake in Thermo Fisher Scientific by 116.0% in the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock valued at $30,000 after acquiring an additional 29 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Thermo Fisher Scientific during the first quarter worth about $32,000. Finally, Bank & Trust Co purchased a new stake in shares of Thermo Fisher Scientific in the 2nd quarter valued at about $33,000. 89.23% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Thermo Fisher Scientific

In related news, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction on Monday, October 28th. The shares were sold at an average price of $554.29, for a total transaction of $5,542,900.00. Following the transaction, the chief executive officer now owns 121,192 shares in the company, valued at approximately $67,175,513.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $3,263,656.50. Following the sale, the chief executive officer now owns 121,192 shares of the company’s stock, valued at $67,611,804.88. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Marc N. Casper sold 10,000 shares of Thermo Fisher Scientific stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $554.29, for a total value of $5,542,900.00. Following the sale, the chief executive officer now directly owns 121,192 shares in the company, valued at approximately $67,175,513.68. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,150 shares of company stock worth $15,676,125 in the last ninety days. Insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Price Performance

NYSE:TMO opened at $546.92 on Tuesday. The company’s 50-day moving average is $592.59 and its two-hundred day moving average is $583.56. 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 has a market cap of $209.20 billion, a price-to-earnings ratio of 34.29, a price-to-earnings-growth ratio of 3.65 and a beta of 0.79. Thermo Fisher Scientific Inc. has a 12-month low of $439.11 and a 12-month high of $627.88.

Thermo Fisher Scientific (NYSE:TMO) last announced its quarterly earnings data on Wednesday, October 23rd. The medical research company reported $5.28 EPS for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. During the same quarter in the previous year, the business earned $5.69 earnings per share. The business’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts expect that Thermo Fisher Scientific Inc. will post 21.69 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The business 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. This represents a $1.56 dividend on an annualized basis and a yield of 0.29%. The ex-dividend date is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is currently 9.78%.

Analysts Set New Price Targets

A number of brokerages have weighed in on TMO. JPMorgan Chase & Co. boosted 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. Royal Bank of Canada decreased their price target on shares of 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. 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 for the company. Evercore ISI dropped their price target on 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. Finally, TD Cowen increased their price target on Thermo Fisher Scientific from $656.00 to $686.00 in a report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Thermo Fisher Scientific presently has a consensus rating of “Moderate Buy” and an average target price of $649.33.

About Thermo Fisher Scientific

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.