Cassaday & Co Wealth Management LLC Raises Stock Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

Cassaday & Co Wealth Management LLC lifted its holdings in Thermo Fisher Scientific Inc. (NYSE:TMO) by 4.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,266 shares of the medical research company’s stock after acquiring an additional 88 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in Thermo Fisher Scientific were worth $1,402,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital World Investors lifted its holdings in shares of Thermo Fisher Scientific by 10.0% in the 1st quarter. Capital World Investors now owns 13,493,852 shares of the medical research company’s stock worth $7,842,762,000 after acquiring an additional 1,231,059 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Thermo Fisher Scientific by 1.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,054,621 shares of the medical research company’s stock valued at $5,843,848,000 after buying an additional 156,675 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of Thermo Fisher Scientific by 1.5% in the first quarter. Capital Research Global Investors now owns 8,113,137 shares of the medical research company’s stock worth $4,715,436,000 after buying an additional 123,523 shares during the period. Ameriprise Financial Inc. boosted its holdings in Thermo Fisher Scientific by 32.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,481,257 shares of the medical research company’s stock valued at $1,372,157,000 after acquiring an additional 604,895 shares during the period. Finally, Dimensional Fund Advisors LP grew its position in Thermo Fisher Scientific by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,740,482 shares of the medical research company’s stock valued at $962,482,000 after acquiring an additional 20,075 shares during the last quarter. 89.23% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on TMO shares. Royal Bank of Canada lowered their target price 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. Bernstein Bank raised their target price 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. Evercore ISI dropped their price objective on Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Robert W. Baird decreased their target price on 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, Bank of America raised their price target on Thermo Fisher Scientific from $600.00 to $675.00 and gave the company a “buy” rating in a research note on Monday, September 16th. Four research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $649.33.

Thermo Fisher Scientific Stock Down 3.7 %

Shares of TMO stock opened at $513.08 on Monday. The stock’s fifty 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 1-year low of $464.17 and a 1-year high of $627.88. The company has a market cap of $196.25 billion, a price-to-earnings ratio of 32.17, a price-to-earnings-growth ratio of 3.39 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last posted its quarterly earnings data 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 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 company’s revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $5.69 earnings per share. On average, research analysts expect that Thermo Fisher Scientific Inc. will post 21.67 earnings per share for the current fiscal year.

Thermo Fisher Scientific Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Friday, December 13th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio (DPR) is presently 9.78%.

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

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the firm’s stock in a transaction that occurred on Friday, October 25th. The shares were 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 trade represents a 1.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Marc N. Casper sold 9,000 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $552.86, for a total transaction of $4,975,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,608 shares in the company, valued at $8,076,178.88. This trade represents a 38.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,150 shares of company stock worth $20,651,865 in the last 90 days. Insiders own 0.34% of the company’s stock.

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.