Thermo Fisher Scientific Inc. (NYSE:TMO) Shares Bought by Wahed Invest LLC

Wahed Invest LLC increased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO) by 11.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,176 shares of the medical research company’s stock after buying an additional 908 shares during the quarter. Thermo Fisher Scientific comprises approximately 1.0% of Wahed Invest LLC’s investment portfolio, making the stock its 16th biggest holding. Wahed Invest LLC’s holdings in Thermo Fisher Scientific were worth $5,676,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TMO. Signature Resources Capital Management LLC lifted its stake in 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 valued at $25,000 after acquiring an additional 35 shares during the period. Peterson Financial Group Inc. acquired a new position in shares of Thermo Fisher Scientific in the 3rd quarter valued at about $27,000. 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 holdings in Thermo Fisher Scientific by 116.0% during the second quarter. Stephens Consulting LLC now owns 54 shares of the medical research company’s stock worth $30,000 after buying an additional 29 shares in the last quarter. Finally, Triad Wealth Partners LLC purchased a new position in Thermo Fisher Scientific in the second quarter valued at $43,000. Hedge funds and other institutional investors own 89.23% of the company’s stock.

Thermo Fisher Scientific Stock Down 1.5 %

Shares of NYSE:TMO opened at $520.82 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $488.02 and a 1 year high of $627.88. The firm’s 50-day moving average is $559.78 and its two-hundred day moving average is $576.07. The firm has a market capitalization of $199.21 billion, a PE ratio of 32.65, a price-to-earnings-growth ratio of 3.59 and a beta of 0.77. 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 (NYSE:TMO) last released its earnings results on Wednesday, October 23rd. The medical research company reported $5.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.25 by $0.03. The firm had revenue of $10.60 billion during the quarter, compared to analyst estimates of $10.63 billion. Thermo Fisher Scientific had a return on equity of 17.49% and a net margin of 14.48%. Thermo Fisher Scientific’s revenue was up .2% compared to the same quarter last year. During the same period last year, the business posted $5.69 earnings per share. Analysts predict that Thermo Fisher Scientific Inc. will post 21.68 EPS for the current year.

Thermo Fisher Scientific Dividend Announcement

The firm 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 $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 0.30%. The ex-dividend date of this dividend is Friday, December 13th. Thermo Fisher Scientific’s dividend payout ratio is presently 9.78%.

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

Analysts Set New Price Targets

TMO has been the topic of several research analyst reports. Wells Fargo & Company dropped their price objective on Thermo Fisher Scientific from $670.00 to $660.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. increased their price objective on shares of Thermo Fisher Scientific from $650.00 to $670.00 and gave the company an “overweight” rating in a report on Friday, September 20th. Redburn Atlantic initiated coverage on shares of Thermo Fisher Scientific in a research note on Monday, October 14th. They set a “buy” rating and a $680.00 target price for the company. Bank of America boosted their price objective on Thermo Fisher Scientific from $600.00 to $675.00 and gave the stock a “buy” rating in a research note on Monday, September 16th. Finally, Evercore ISI lowered their price target 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. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $649.33.

Insider Transactions at Thermo Fisher Scientific

In other news, SVP Michael A. Boxer sold 2,000 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 $1,120,320.00. Following the transaction, the senior vice president now directly owns 12,736 shares in the company, valued at approximately $7,134,197.76. This trade represents a 13.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Gianluca Pettiti sold 300 shares of the firm’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 directly owns 16,663 shares in the company, valued at $9,333,946.08. The trade was a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,150 shares of company stock valued at $25,954,465. Corporate insiders own 0.34% of the company’s stock.

Thermo Fisher Scientific Company 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.