Thermo Fisher Scientific Inc. (NYSE:TMO) Stock Position Lifted by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its position in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 1.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,104,441 shares of the medical research company’s stock after purchasing an additional 18,160 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Thermo Fisher Scientific were worth $683,174,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Meeder Asset Management Inc. increased its holdings in shares of Thermo Fisher Scientific by 13.7% in the 1st quarter. Meeder Asset Management Inc. now owns 573 shares of the medical research company’s stock worth $333,000 after acquiring an additional 69 shares during the period. Verus Capital Partners LLC bought a new position in Thermo Fisher Scientific in the 1st quarter worth approximately $232,000. Headlands Technologies LLC bought a new stake in Thermo Fisher Scientific during the 1st quarter valued at $32,000. Entropy Technologies LP boosted its position in Thermo Fisher Scientific by 45.4% during the 1st quarter. Entropy Technologies LP now owns 7,099 shares of the medical research company’s stock worth $4,126,000 after acquiring an additional 2,218 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Thermo Fisher Scientific by 0.9% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 183,156 shares of the medical research company’s stock valued at $106,452,000 after purchasing an additional 1,565 shares during the period. 89.23% of the stock is owned by institutional investors and hedge funds.

Thermo Fisher Scientific Stock Down 0.9 %

Thermo Fisher Scientific stock opened at $546.92 on Tuesday. 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 fifty day moving average price of $592.59 and a two-hundred day moving average price of $583.56. The firm has a market cap of $209.20 billion, a price-to-earnings ratio of 34.29, a P/E/G ratio of 3.65 and a beta of 0.79. Thermo Fisher Scientific Inc. has a fifty-two week low of $439.11 and a fifty-two week high of $627.88.

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

Thermo Fisher Scientific Announces Dividend

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

Analyst Ratings Changes

Several research firms have commented on TMO. TD Cowen raised their target price on shares of Thermo Fisher Scientific from $656.00 to $686.00 in a research note on Tuesday, October 22nd. Royal Bank of Canada dropped their price target on Thermo Fisher Scientific from $767.00 to $718.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Morgan Stanley lifted 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. Stephens began coverage on Thermo Fisher Scientific in a research report on Tuesday, October 1st. They issued an “overweight” rating and a $680.00 price target for the company. Finally, Raymond James upped their price objective on shares of Thermo Fisher Scientific from $650.00 to $660.00 and gave the company an “outperform” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $649.33.

Insiders Place Their Bets

In related news, SVP Michael A. Boxer sold 2,000 shares of the business’s stock in a transaction on Friday, October 25th. The stock was 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 owns 12,736 shares of the company’s stock, valued at $7,134,197.76. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, EVP Gianluca Pettiti sold 300 shares of the company’s 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 transaction, the executive vice president now owns 16,663 shares of the company’s stock, valued at $9,333,946.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Michael A. Boxer sold 2,000 shares of Thermo Fisher Scientific stock in a transaction dated Friday, October 25th. The stock was sold at an average price of $560.16, for a total value of $1,120,320.00. Following the completion of the sale, the senior vice president now owns 12,736 shares of the company’s stock, valued at approximately $7,134,197.76. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,150 shares of company stock worth $15,676,125 over the last 90 days. Corporate 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.