AlphaCore Capital LLC Takes $217,000 Position in Thermo Fisher Scientific Inc. (NYSE:TMO)

AlphaCore Capital LLC purchased a new position in Thermo Fisher Scientific Inc. (NYSE:TMO) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 350 shares of the medical research company’s stock, valued at approximately $217,000.

Other hedge funds also recently modified their holdings of the company. Peterson Financial Group Inc. acquired a new stake in Thermo Fisher Scientific in the 3rd quarter worth $27,000. Signature Resources Capital Management LLC increased its position in shares of Thermo Fisher Scientific by 318.2% during the second quarter. Signature Resources Capital Management LLC now owns 46 shares of the medical research company’s stock valued at $25,000 after purchasing an additional 35 shares during the period. New Millennium Group LLC acquired a new position in shares of Thermo Fisher Scientific in the second quarter valued at $29,000. Stephens Consulting LLC raised 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 buying an additional 29 shares in the last quarter. Finally, Bank & Trust Co bought a new position in shares of Thermo Fisher Scientific during the 2nd quarter worth about $33,000. 89.23% of the stock is owned by institutional investors.

Thermo Fisher Scientific Price Performance

Thermo Fisher Scientific stock opened at $515.26 on Friday. The stock’s 50 day moving average is $577.66 and its 200 day moving average is $580.52. 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 one year low of $480.57 and a one year high of $627.88. The firm has a market cap of $197.09 billion, a P/E ratio of 32.30, a P/E/G ratio of 3.37 and a beta of 0.79.

Thermo Fisher Scientific (NYSE:TMO) last issued its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share for the quarter, topping analysts’ consensus estimates of $5.25 by $0.03. The business had revenue of $10.60 billion during the quarter, compared to the consensus estimate of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. The firm’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $5.69 earnings per share. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 21.67 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

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

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

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Raymond James raised their price target on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the stock an “outperform” rating in a research note on Thursday, July 25th. Evercore ISI cut their price target on shares of Thermo Fisher Scientific from $630.00 to $620.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Stifel Nicolaus lowered their price target on shares of Thermo Fisher Scientific from $680.00 to $665.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Morgan Stanley raised their target price on Thermo Fisher Scientific from $655.00 to $680.00 and gave the stock an “overweight” rating in a report on Friday, September 20th. Finally, Barclays lowered their price target on Thermo Fisher Scientific from $620.00 to $610.00 and set an “equal weight” rating for the company in a report on Wednesday, October 23rd. Four investment 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 company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $649.33.

Insider Buying and Selling

In other Thermo Fisher Scientific news, EVP Gianluca Pettiti sold 300 shares of the 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 transaction, the executive vice president now directly owns 16,663 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Marc N. Casper sold 9,000 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $552.86, for a total value of $4,975,740.00. Following the completion of the sale, the chief executive officer now directly owns 14,608 shares of the company’s stock, valued at approximately $8,076,178.88. This trade represents a 38.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,150 shares of company stock worth $20,651,865. 0.34% of the stock is owned by 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.